PPP Loan Data — Murphy Farms Partnership, Madison, AL
Murphy Farms Partnership is a limited liability partnership located at 180 Murphy Lane in Madison, Alabama that received a Coronavirus-related PPP loan from the SBA of $25,465.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Murphy Farms Partnership in Madison, AL received a Paycheck Protection Loan of $25,465 through BancorpSouth Bank, 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 April, 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, Murphy Farms Partnership's 2019 payroll expenses are estimated to be at least $122,232.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $61,116 per employee1
Reported PPP Proceed Usage:
On the PPP application, Murphy Farms Partnership reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,465
Business Information - Murphy Farms Partnership in Madison, AL
180 Murphy Lane
Madison, AL 35756
NAICS code 111920
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Madison
In the Madison area, 6 businesses in the "Cotton Farming" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 2) and received an average PPP loan of $24,873 (compared to this company's $25,465).
Similar Nearby Businesses Who Received PPP Funding:
Ben W. Anderson
John P. Garret Et AL Ptr
Sherry Poole LLC
Peetes Corner Farms
Industry PPP Comparison Statistics
Nationwide, 6,854 businesses in the "Cotton Farming" industry received a total of $184.97M 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 3 employees, 50% higher than Murphy Farms Partnership's reported 2 employees, and received an average PPP loan of $26,987, 6% higher than this company's loan of $25,465.
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Footnotes & Information
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