PPP Loan Data — S & T Custom Farming LLC, Steamboat Rock, IA
S & T Custom Farming LLC is a limited liability company (LLC) located at 29457 185th St. in Steamboat Rock, Iowa that received a Coronavirus-related PPP loan from the SBA of $46,275.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least five people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Hardin County Savings Bank
S & T Custom Farming LLC in Steamboat Rock, IA received a Paycheck Protection Loan of $46,275 through Hardin County Savings Bank, 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, S & T Custom Farming LLC's 2019 payroll expenses are estimated to be at least $222,120.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $44,424 per employee1
Reported PPP Proceed Usage:
On the PPP application, S & T Custom Farming LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,275
Business Information - S & T Custom Farming LLC in Steamboat Rock, IA
29457 185th St.
Steamboat Rock, IA 50672
Crop Harvesting, Primarily by Machine
NAICS code 115113
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 2,383 businesses in the "Crop Harvesting, Primarily by Machine" industry received a total of $129.1M 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 9 employees, 80% higher than S & T Custom Farming LLC's reported 5 employees, and received an average PPP loan of $54,177, 17% higher than this company's loan of $46,275.
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Footnotes & Information
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