PPP Loan Data — Peters Fruit Farms, Inc, Reedley, CA
Peters Fruit Farms, Inc is a corporation located at 41018 Road 56 in Reedley, California that received a Coronavirus-related PPP loan from the SBA of $1,667,377.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of the Sierra
Peters Fruit Farms, Inc in Reedley, CA received a Paycheck Protection Loan of $1.67M through Bank of the Sierra, 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 June, 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, Peters Fruit Farms, Inc's 2019 payroll expenses are estimated to be at least $8M.
Based on their reported 231 jobs retained, this equals an estimated average yearly compensation of $34,647 per employee1
Reported PPP Proceed Usage:
On the PPP application, Peters Fruit Farms, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,667,377
Business Information - Peters Fruit Farms, Inc in Reedley, CA
41018 Road 56
Reedley, CA 93654
Other Noncitrus Fruit Farming
NAICS code 111339
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Reedley
In the Reedley area, 16 businesses in the "Other Noncitrus Fruit Farming" industry received a PPP loan. These local businesses reported an average of 126 employees (compared to this company's 231) and received an average PPP loan of $765,448 (compared to this company's $1.67M).
Similar Nearby Businesses Who Received PPP Funding:
Huerta Family Farms Inc
Troy Jackson Farms
Moonlight Packing Company LLC
Rio Vista Fruit Farms
KMJ AG, Inc
E & D Farms, Inc
Industry PPP Comparison Statistics
Nationwide, 1,611 businesses in the "Other Noncitrus Fruit Farming" industry received a total of $162.31M 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 22 employees, 90% lower than Peters Fruit Farms, Inc's reported 231 employees, and received an average PPP loan of $100,753, 94% lower than this company's loan of $1.67M.
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Footnotes & Information
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