PPP Loan Data — Supreme Rice LLC, Crowley, LA
Supreme Rice LLC is a limited liability company (LLC) located at 004 S Avenue D in Crowley, Louisiana that received a Coronavirus-related PPP loan from the SBA of $1,583,000.00 in April, 2020.
The company has reported itself as an American indian or alaska native female owned business, and employed at least 199 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Gulf Coast Bank
Supreme Rice LLC in Crowley, LA received a Paycheck Protection Loan of $1.58M through Gulf Coast Bank, 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 December, 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, Supreme Rice LLC's 2019 payroll expenses are estimated to be at least $7.6M.
Based on their reported 199 jobs retained, this equals an estimated average yearly compensation of $38,183 per employee1
Reported PPP Proceed Usage:
On the PPP application, Supreme Rice LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,583,000
Business Information - Supreme Rice LLC in Crowley, LA
004 S Avenue D
Crowley, LA 70526
NAICS code 311212
Business Owner Demographics
Race: American Indian or Alaska Native
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Similar Companies near Crowley
In the Crowley area, 6 businesses in the "Rice Milling" industry received a PPP loan. These local businesses reported an average of 50 employees (compared to this company's 199) and received an average PPP loan of $412,080 (compared to this company's $1.58M).
Similar Nearby Businesses Who Received PPP Funding:
Third Crop, LLC
Southwest Rice Mill Co., Inc
Rice Belt Distributors, Inc
Crowley Grain Drier Inc
Hensgens Grain Elevator, Inc
Industry PPP Comparison Statistics
Nationwide, 108 businesses in the "Rice Milling" industry received a total of $26.53M 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 23 employees, 88% lower than Supreme Rice LLC's reported 199 employees, and received an average PPP loan of $245,613, 84% lower than this company's loan of $1.58M.
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Footnotes & Information
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