PPP Loan Data — Rode Farms LLC, Pocahontas, IL
Rode Farms LLC is a limited liability company (LLC) located at 5308 Fairview Rd in Pocahontas, Illinois that received a Coronavirus-related PPP loan from the SBA of $25,168.00 in January, 2021.
The company has reported itself as a male owned business, and employed at least three people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:The Bradford National Bank of Greenville
Rode Farms LLC in Pocahontas, IL received a Paycheck Protection Loan of $25,168 through The Bradford National Bank of Greenville, 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, Rode Farms LLC's 2019 payroll expenses are estimated to be at least $120,806.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,269 per employee1
Reported PPP Proceed Usage:
On the PPP application, Rode Farms LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,164
- Utilities: $1
Business Information - Rode Farms LLC in Pocahontas, IL
5308 Fairview Rd
Pocahontas, IL 62275
Oilseed and Grain Combination Farming
NAICS code 111191
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Pocahontas
In the Pocahontas area, 44 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 3) and received an average PPP loan of $20,065 (compared to this company's $25,168).
Similar Nearby Businesses Who Received PPP Funding:
Ralph Von Bokel Jr
Jordan Von Bokel
Jodi A. Frey
Matthew Eugene Frey - F022540
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, 33% lower than Rode Farms LLC's reported 3 employees, and received an average PPP loan of $19,694, 22% lower than this company's loan of $25,168.
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Footnotes & Information
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