PPP Loan Data — Schaefer Farms LLC, Flemington, NJ
Schaefer Farms LLC is a limited liability company (LLC) located at 1051 County Road 523 in Flemington, New Jersey that received a Coronavirus-related PPP loan from the SBA of $25,190.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:TD Bank, National Association
Schaefer Farms LLC in Flemington, NJ received a Paycheck Protection Loan of $25,190 through TD 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 March, 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, Schaefer Farms LLC's 2019 payroll expenses are estimated to be at least $120,912.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,182 per employee1
Reported PPP Proceed Usage:
On the PPP application, Schaefer Farms LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,190
Business Information - Schaefer Farms LLC in Flemington, NJ
1051 County Road 523
Flemington, NJ 8822
Other Vegetable (except Potato) and Melon Farming
NAICS code 111219
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 5,617 businesses in the "Other Vegetable (except Potato) and Melon Farming" industry received a total of $452.09M 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 13 employees, 160% higher than Schaefer Farms LLC's reported 5 employees, and received an average PPP loan of $80,486, 220% higher than this company's loan of $25,190.
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Footnotes & Information
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