PPP Loan Data — Topflavor Farms Inc, Yuma, AZ
Topflavor Farms Inc is a corporation located at 1750 E 20th St in Yuma, Arizona that received a Coronavirus-related PPP loan from the SBA of $1,660,627.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Topflavor Farms Inc in Yuma, AZ received a Paycheck Protection Loan of $1.66M through Mechanics Bank, 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, Topflavor Farms Inc's 2019 payroll expenses are estimated to be at least $7.97M.
Based on their reported 238 jobs retained, this equals an estimated average yearly compensation of $33,492 per employee1
Reported PPP Proceed Usage:
On the PPP application, Topflavor Farms Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,660,627
Business Information - Topflavor Farms Inc in Yuma, AZ
1750 E 20th St
Yuma, AZ 85365
All Other Miscellaneous Crop Farming
NAICS code 111998
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Yuma
In the Yuma area, 11 businesses in the "All Other Miscellaneous Crop Farming" industry received a PPP loan. These local businesses reported an average of 53 employees (compared to this company's 238) and received an average PPP loan of $428,303 (compared to this company's $1.66M).
Similar Nearby Businesses Who Received PPP Funding:
Aivazian Farms Inc
Barkley Seed, Inc
Smith Farms Company Of Yuma Inc
NEX Gen Farm Management, Inc
Southern Colorado Farms, LLC
Custom Seed Coaters Inc
TFT Farms LLC
Coronation Peak Ranches, Inc
Industry PPP Comparison Statistics
Nationwide, 27,661 businesses in the "All Other Miscellaneous Crop Farming" industry received a total of $1.14B 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 6 employees, 97% lower than Topflavor Farms Inc's reported 238 employees, and received an average PPP loan of $41,062, 98% lower than this company's loan of $1.66M.
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Footnotes & Information
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