PPP Loan Data — Kirkpatrick Farms, Inc, Deckerville, MI
Kirkpatrick Farms, Inc is a corporation located at 2121 Berkshire Rd in Deckerville, Michigan that received a Coronavirus-related PPP loan from the SBA of $25,333.00 in August, 2020.
The company has reported itself as a female owned business, and employed at least seven people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Exchange State Bank
Kirkpatrick Farms, Inc in Deckerville, MI received a Paycheck Protection Loan of $25,333 through Exchange State Bank, which was approved in August, 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, Kirkpatrick Farms, Inc's 2019 payroll expenses are estimated to be at least $121,598.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $17,371 per employee1
Reported PPP Proceed Usage:
On the PPP application, Kirkpatrick Farms, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,333
Business Information - Kirkpatrick Farms, Inc in Deckerville, MI
2121 Berkshire Rd
Deckerville, MI 48427
NAICS code 111110
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Deckerville
In the Deckerville area, 15 businesses in the "Soybean Farming" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 7) and received an average PPP loan of $14,114 (compared to this company's $25,333).
Similar Nearby Businesses Who Received PPP Funding:
John Gough Farms, Inc
S Shaw Farms LLC
Industry PPP Comparison Statistics
Nationwide, 57,165 businesses in the "Soybean Farming" industry received a total of $1.13B 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, 71% lower than Kirkpatrick Farms, Inc's reported 7 employees, and received an average PPP loan of $19,731, 22% lower than this company's loan of $25,333.
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Footnotes & Information
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