PPP Loan Data — Veg-King Of Florida, Inc, Zolfo Springs, FL
Veg-King Of Florida, Inc is a corporation located at 2208 Steve Roberts Special in Zolfo Springs, Florida that received a Coronavirus-related PPP loan from the SBA of $45,800.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Wauchula State Bank
Veg-King Of Florida, Inc in Zolfo Springs, FL received a Paycheck Protection Loan of $45,800 through Wauchula State 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, Veg-King Of Florida, Inc's 2019 payroll expenses are estimated to be at least $219,840.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $36,640 per employee1
Reported PPP Proceed Usage:
On the PPP application, Veg-King Of Florida, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $45,800
Business Information - Veg-King Of Florida, Inc in Zolfo Springs, FL
2208 Steve Roberts Special
Zolfo Springs, FL 33890
Fresh Fruit and Vegetable Merchant Wholesalers
NAICS code 424480
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 4,225 businesses in the "Fresh Fruit and Vegetable Merchant Wholesalers" industry received a total of $800.94M 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 19 employees, 217% higher than Veg-King Of Florida, Inc's reported 6 employees, and received an average PPP loan of $189,572, 314% higher than this company's loan of $45,800.
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Footnotes & Information
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