PPP Loan Data — Rouge River Farms Inc, Clewiston, FL
Rouge River Farms Inc is a corporation located at 1163 Evercane Road in Clewiston, Florida that received a Coronavirus-related PPP loan from the SBA of $1,890,250.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Southwest Georgia Farm Credit, ACA
Rouge River Farms Inc in Clewiston, FL received a Paycheck Protection Loan of $1.89M through Southwest Georgia Farm Credit, ACA, which was approved in April, 2020.
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, Rouge River Farms Inc's 2019 payroll expenses are estimated to be at least $9.07M.
Based on their reported 381 jobs retained, this equals an estimated average yearly compensation of $23,814 per employee1
Reported PPP Proceed Usage:
On the PPP application, Rouge River Farms Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,890,250
Business Information - Rouge River Farms Inc in Clewiston, FL
1163 Evercane Road
Clewiston, FL 33440
NAICS code 111150
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 91,263 businesses in the "Corn Farming" industry received a total of $1.75B 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, 99% lower than Rouge River Farms Inc's reported 381 employees, and received an average PPP loan of $19,196, 99% lower than this company's loan of $1.89M.
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Footnotes & Information
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