PPP Loan Data — Satsuma Farms, LLC, Moss Landing, CA
Satsuma Farms, LLC is a limited liability company (LLC) located at 1277 Salinas Rd in Moss Landing, California that received a Coronavirus-related PPP loan from the SBA of $1,750,000.00 in May, 2020.
The company has reported itself as an Asian male owned business, and employed at least 400 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:JPMorgan Chase Bank, National Association
Satsuma Farms, LLC in Moss Landing, CA received a Paycheck Protection Loan of $1.75M through JPMorgan Chase Bank, National Association, which was approved in May, 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
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, Satsuma Farms, LLC's 2019 payroll expenses are estimated to be at least $8.4M.
Based on their reported 400 jobs retained, this equals an estimated average yearly compensation of $21,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Satsuma Farms, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,400,000
- Rent: $175,000
- Health Care: $100,000
- Debt Interest: $75,000
Business Information - Satsuma Farms, LLC in Moss Landing, CA
1277 Salinas Rd
Moss Landing, CA 95039
All Other Animal Production
NAICS code 112990
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 10,196 businesses in the "All Other Animal Production" industry received a total of $237.6M 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, 99% lower than Satsuma Farms, LLC's reported 400 employees, and received an average PPP loan of $23,303, 99% lower than this company's loan of $1.75M.
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Footnotes & Information
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