PPP Loan Data — Lester Farms Inc, Gracey, KY
Lester Farms Inc is a corporation located at 9805 Lester Rd in Gracey, Kentucky that received a Coronavirus-related PPP loan from the SBA of $25,300.00 in January, 2021.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First Financial Bank, National Association
Lester Farms Inc in Gracey, KY received a Paycheck Protection Loan of $25,300 through First Financial Bank, National Association, which was approved in January, 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, Lester Farms Inc's 2019 payroll expenses are estimated to be at least $121,440 (not accounting for salary amounts > $100k).
Because the 1 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Lester Farms Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,300
Business Information - Lester Farms Inc in Gracey, KY
9805 Lester Rd
Gracey, KY 42232
Oilseed and Grain Combination Farming
NAICS code 111191
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Gracey
In the Gracey area, 5 businesses in the "Oilseed and Grain Combination Farming" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 1) and received an average PPP loan of $24,967 (compared to this company's $25,300).
Similar Nearby Businesses Who Received PPP Funding:
Lester Farm Inc
Micah Lester Farms
Gary P Lester
Industry PPP Comparison Statistics
Nationwide, 32,716 businesses in the "Oilseed and Grain Combination Farming" industry received a total of $644.3M 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, 100% higher than Lester Farms Inc's reported 1 employees, and received an average PPP loan of $19,694, 22% lower than this company's loan of $25,300.
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Footnotes & Information
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