PPP Loan Data — Ken Fries LLC, Benkelman, NE
Ken Fries LLC is a limited liability company (LLC) located at 33598 Road 709 in Benkelman, Nebraska that received a Coronavirus-related PPP loan from the SBA of $25,500.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Farm Credit Services of America, ACA
Ken Fries LLC in Benkelman, NE received a Paycheck Protection Loan of $25,500 through Farm Credit Services of America, ACA, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in February, 2021.
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, Ken Fries LLC's 2019 payroll expenses are estimated to be at least $122,400.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $61,200 per employee1
Reported PPP Proceed Usage:
On the PPP application, Ken Fries LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,500
Business Information - Ken Fries LLC in Benkelman, NE
33598 Road 709
Benkelman, NE 69021
NAICS code 111150
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Benkelman
In the Benkelman area, 112 businesses in the "Corn Farming" industry received a PPP loan. These local businesses reported an average of 1 employees (compared to this company's 2) and received an average PPP loan of $19,835 (compared to this company's $25,500).
Similar Nearby Businesses Who Received PPP Funding:
Cramer Grain, LLC
RRH Johnson Farms
Industry PPP Comparison Statistics
Nationwide, 91,263 businesses in the "Corn Farming" industry received a total of $1.75B 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 2 employees, the same amount reported by Ken Fries LLC and received an average PPP loan of $19,196, 25% lower than this company's loan of $25,500.
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Footnotes & Information
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