PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Southwestern Produce Co Inc, Plant City, FL

ALERT: There are 2 PPP loans for a total of $63,133 in our database for businesses with the name "Southwestern Produce Co Inc" in Plant City, FL. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Southwestern Produce Co Inc
FL

Southwestern Produce Co Inc

Entity: Corporation

Industry: Other Farm Product Raw Material Merchant Wholesalers

Location: Plant City, FL

Search All PPP Data

Southwestern Produce Co Inc is a corporation located at 1510 Sydney Rd in Plant City, Florida that received a Coronavirus-related PPP loan from the SBA of $37,920.00 in January, 2021.

$ PPP Loan Information
Loan #9379368303

Loan Size:

$37,920

Jobs Retained:

10

Loan Approved:

2021-01-30

Loan Status:

Ongoing Loan

Lender:

Farm Credit of Central Florida, ACA

Southwestern Produce Co Inc in Plant City, FL received a Paycheck Protection Loan of $37,920 through Farm Credit of Central Florida, ACA, which was approved in January, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Southwestern Produce Co Inc's 2019 payroll expenses are estimated to be at least $182,016.

Based on their reported 10 jobs retained, this equals an estimated average yearly compensation of $18,202 per employee1

Reported PPP Proceed Usage:

On the PPP application, Southwestern Produce Co Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $37,920

Business Information - Southwestern Produce Co Inc in Plant City, FL

Southwestern Produce Co Inc
1510 Sydney Rd
Plant City, FL 33566

Business Industry:
Other Farm Product Raw Material Merchant Wholesalers
NAICS code 424590

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Hillsborough County, FL — SBA Office 0455 — Congressional District: FL-15

Industry PPP Comparison Statistics

Nationwide, 1,466 businesses in the "Other Farm Product Raw Material Merchant Wholesalers" industry received a total of $114.19M 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, 10% lower than Southwestern Produce Co Inc's reported 10 employees, and received an average PPP loan of $77,890, 105% higher than this company's loan of $37,920.

SBA PPP loan data, payroll data, and salaries for Southwestern Produce Co Inc
FL

Southwestern Produce Co Inc

Entity: Corporation

Industry: All Other Specialty Food Stores

Location: Plant City, FL

Search All PPP Data

Southwestern Produce Co Inc is a corporation located at 1510 W Sydney Rd in Plant City, Florida that received a Coronavirus-related PPP loan from the SBA of $25,213.00 in April, 2020.

$ PPP Loan Information
Loan #4287267203

Loan Size:

$25,213

Jobs Retained:

10

Loan Approved:

2020-04-27

Loan Status:

Paid in Full or Forgiven

Lender:

Farm Credit of Central Florida, ACA

Southwestern Produce Co Inc in Plant City, FL received a Paycheck Protection Loan of $25,213 through Farm Credit of Central Florida, ACA, which was approved in April, 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 January, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Southwestern Produce Co Inc's 2019 payroll expenses are estimated to be at least $121,022.

Based on their reported 10 jobs retained, this equals an estimated average yearly compensation of $12,102 per employee1

Reported PPP Proceed Usage:

On the PPP application, Southwestern Produce Co Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $25,213

Business Information - Southwestern Produce Co Inc in Plant City, FL

Southwestern Produce Co Inc
1510 W Sydney Rd
Plant City, FL 33566

Business Industry:
All Other Specialty Food Stores
NAICS code 445299

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: Y

Rural / Urban: Urban

Hillsborough County, FL — SBA Office 0455 — Congressional District: FL-15

Similar Companies near Plant City

In the Plant City area, 2 businesses in the "All Other Specialty Food Stores" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 10) and received an average PPP loan of $22,791 (compared to this company's $25,213).

Similar Nearby Businesses Who Received PPP Funding:

Carter Produce LLC
Plant City, FL

$20,368 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 13,977 businesses in the "All Other Specialty Food Stores" industry received a total of $690.79M 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 11 employees, 10% higher than Southwestern Produce Co Inc's reported 10 employees, and received an average PPP loan of $49,423, 96% higher than this company's loan of $25,213.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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Source: www.federalpay.org/paycheck-protection-program/southwestern-produce-co-inc-plant-city-fl