PPP Loan Data — Koch Seed, LLC, Dewitt, NE
Koch Seed, LLC is a limited liability company (LLC) located at 72485 580th Ave in Dewitt, Nebraska that received a Coronavirus-related PPP loan from the SBA of $24,985.00 in May, 2020.
The company has reported itself as a White male owned business, and employed at least three people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Farmers and Merchants Bank
Koch Seed, LLC in Dewitt, NE received a Paycheck Protection Loan of $24,985 through Farmers and Merchants Bank, which was approved in May, 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 May, 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, Koch Seed, LLC's 2019 payroll expenses are estimated to be at least $119,928.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $39,976 per employee1
Reported PPP Proceed Usage:
On the PPP application, Koch Seed, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,985
Business Information - Koch Seed, LLC in Dewitt, NE
72485 580th Ave
Dewitt, NE 68341
Farm Supplies Merchant Wholesalers
NAICS code 424910
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Dewitt
In the Dewitt area, 2 businesses in the "Farm Supplies Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 3) and received an average PPP loan of $26,143 (compared to this company's $24,985).
Similar Nearby Businesses Who Received PPP Funding:
D & J AG Products, Inc
Industry PPP Comparison Statistics
Nationwide, 4,373 businesses in the "Farm Supplies Merchant Wholesalers" industry received a total of $607.02M 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 13 employees, 333% higher than Koch Seed, LLC's reported 3 employees, and received an average PPP loan of $138,811, 456% higher than this company's loan of $24,985.
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Footnotes & Information
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