PPP Loan Data — Southland Sod Farms Operations, Inc, Oxnard, CA
Southland Sod Farms Operations, Inc is a limited liability company (LLC) located at 2599 Hueneme Rd in Oxnard, California that received a Coronavirus-related PPP loan from the SBA of $2,091,900.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:MUFG Union Bank, National Association
Southland Sod Farms Operations, Inc in Oxnard, CA received a Paycheck Protection Loan of $2.09M through MUFG Union Bank, National Association, 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, Southland Sod Farms Operations, Inc's 2019 payroll expenses are estimated to be at least $10.04M.
Based on their reported 175 jobs retained, this equals an estimated average yearly compensation of $57,378 per employee1
Reported PPP Proceed Usage:
On the PPP application, Southland Sod Farms Operations, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,091,900
Business Information - Southland Sod Farms Operations, Inc in Oxnard, CA
2599 Hueneme Rd
Oxnard, CA 93044
Farm Management Services
NAICS code 115116
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 3,659 businesses in the "Farm Management Services" industry received a total of $295.09M 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 9 employees, 95% lower than Southland Sod Farms Operations, Inc's reported 175 employees, and received an average PPP loan of $80,648, 96% lower than this company's loan of $2.09M.
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Footnotes & Information
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