PPP Loan Data — Teufel Nursery, Inc, Hillsboro, OR

Teufel Nursery, Inc

Entity: Corporation

Industry: Landscaping Services

Location: Hillsboro, OR

Teufel Nursery, Inc is a corporation located at 7431 Ne Evergreen Pkwy Ste 200 in Hillsboro, Oregon that received a Coronavirus-related PPP loan from the SBA of $4,647,400.00 in April, 2020.

$ PPP Loan Information
Loan #5514657110

Loan Size:

$4.65M

Jobs Retained:

333

Loan Approved:

2020-04-13

Loan Status:

Paid in Full or Forgiven

Lender:

Northwest Bank

Teufel Nursery, Inc in Hillsboro, OR received a Paycheck Protection Loan of $4.65M through Northwest 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 August, 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.

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.

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, Teufel Nursery, Inc's 2019 payroll expenses are estimated to be at least $22.31M.

Based on their reported 333 jobs retained, this equals an estimated average yearly compensation of $66,990 per employee¹

Reported PPP Proceed Usage:

On the PPP application, Teufel Nursery, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

Payroll: $4,647,400

Because the loan received by Teufel Nursery, Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Teufel Nursery, Inc in Hillsboro, OR

Teufel Nursery, Inc
7431 Ne Evergreen Pkwy Ste 200
Hillsboro, OR 97124

Business Industry:
Landscaping Services
NAICS code 561730

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

Washington County, OR — SBA Office 1086 — Congressional District: OR-01

Similar Companies near Hillsboro

In the Hillsboro area, 25 businesses in the "Landscaping Services" industry received a PPP loan. These local businesses reported an average of 35 employees (compared to this company's 333) and received an average PPP loan of $393,417 (compared to this company's $4.65M).

Similar Nearby Businesses Who Received PPP Funding:

March Enterprises Inc
Hillsboro, OR

$533,800 PPP Loan

Scholls Lawncare And Landscape, LLC
Hillsboro, OR

$127,369 PPP Loan

Badger Tree Service
Hillsboro, OR

$78,809 PPP Loan

Immaculate Gardens LLC
Hillsboro, OR

$5,637 PPP Loan

Supremacy Landscape Maintnace LLC
Hillsboro, OR

$20,833 PPP Loan

Badger Tree Service Inc
Hillsboro, OR

$72,042 PPP Loan

Ernesto Tena
Hillsboro, OR

$6,398 PPP Loan

Signature Landscape Care
Hillsboro, OR

$285,000 PPP Loan

Peak Landscape, Inc
Hillsboro, OR

$636,758 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 131,826 businesses in the "Landscaping Services" industry received a total of $5.9B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 6 employees, 98% lower than Teufel Nursery, Inc's reported 333 employees, and received an average PPP loan of $44,736, 99% lower than this company's loan of $4.65M.

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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