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PPP Loan Data — Long Creek Farms, LLC, Houston, MS

SBA PPP loan data, payroll data, and salaries for Long Creek Farms, LLC
MS

Long Creek Farms, LLC

Entity: Subchapter S Corporation

Industry: General Freight Trucking, Local

Location: Houston, MS

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Long Creek Farms, LLC is a subchapter s corporation located at 2761 Highway 8 in Houston, Mississippi that received a Coronavirus-related PPP loan from the SBA of $14,465.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least two people during the applicable loan loan period.

$ PPP Loan Information
Loan #6631147310

Loan Size:

$14,465

Jobs Retained:

2

Loan Approved:

2020-04-30

Loan Status:

Paid in Full or Forgiven

Lender:

Bank of Okolona

Long Creek Farms, LLC in Houston, MS received a Paycheck Protection Loan of $14,465 through Bank of Okolona, 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 March, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Long Creek Farms, LLC's 2019 payroll expenses are estimated to be at least $69,432.

Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $34,716 per employee1

Reported PPP Proceed Usage:

On the PPP application, Long Creek Farms, LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $13,144
  • Utilities: $886
  • Debt Interest: $434

Business Information - Long Creek Farms, LLC in Houston, MS

Long Creek Farms, LLC
2761 Highway 8
Houston, MS 38851

Business Industry:
General Freight Trucking, Local
NAICS code 484110

Business Owner Demographics

Race: White

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: Y

Rural / Urban: Rural

Chickasaw County, MS — SBA Office 0470 — Congressional District: MS-01

Similar Companies near Houston

In the Houston area, 22 businesses in the "General Freight Trucking, Local" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 2) and received an average PPP loan of $29,462 (compared to this company's $14,465).

Industry PPP Comparison Statistics

Nationwide, 172,322 businesses in the "General Freight Trucking, Local" industry received a total of $6.52B in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 4 employees, 100% higher than Long Creek Farms, LLC's reported 2 employees, and received an average PPP loan of $37,823, 161% higher than this company's loan of $14,465.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

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Footnotes & Information

1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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Source: www.federalpay.org/paycheck-protection-program/long-creek-farms-llc-houston-ms