PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Murphy Farms Partnership, Madison, AL

SBA PPP loan data, payroll data, and salaries for Murphy Farms Partnership
AL

Murphy Farms Partnership

Entity: Limited Liability Partnership

Industry: Cotton Farming

Location: Madison, AL

Search All PPP Data

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 #9746917102

Loan Size:

$25,465

Jobs Retained:

2

Loan Approved:

2020-04-15

Loan Status:

Paid in Full or Forgiven

Lender:

BancorpSouth Bank

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

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, 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

Murphy Farms Partnership
180 Murphy Lane
Madison, AL 35756

Business Industry:
Cotton Farming
NAICS code 111920

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: New Business or 2 years or less

LMI Zone: N

HUBZone: N

Rural / Urban: Rural

Limestone County, AL — SBA Office 0459 — Congressional District: AL-05

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).

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.

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.

Search FederalPay's Full PPP Loan Database

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.


Have FederalPay.org's open data tools been valuable? Consider donating!

** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/murphy-farms-partnership-madison-al