PPP Loan Data — Johnny's Selected Seeds, Winslow, ME
Johnny's Selected Seeds is a sole proprietorship located at 955 Benton Ave in Winslow, Maine that received a Coronavirus-related PPP loan from the SBA of $2,378,400.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bangor Savings Bank
Johnny's Selected Seeds in Winslow, ME received a Paycheck Protection Loan of $2.38M through Bangor Savings Bank, which was approved in April, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Johnny's Selected Seeds' 2019 payroll expenses are estimated to be at least $11.42M.
Based on their reported 243 jobs retained, this equals an estimated average yearly compensation of $46,981 per employee1
Reported PPP Proceed Usage:
On the PPP application, Johnny's Selected Seeds reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,378,400
Business Information - Johnny's Selected Seeds in Winslow, ME
955 Benton Ave
Winslow, ME 4901
Nursery, Garden Center, and Farm Supply Stores
NAICS code 444220
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 7,240 businesses in the "Nursery, Garden Center, and Farm Supply Stores" industry received a total of $689.88M in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 14 employees, 94% lower than Johnny's Selected Seeds' reported 243 employees, and received an average PPP loan of $95,287, 96% lower than this company's loan of $2.38M.
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Footnotes & Information
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