PPP Loan Data — Vonk Farms, Inc, Ireton, IA
Vonk Farms, Inc is a corporation located at 2490 400th Street in Ireton, Iowa that received a Coronavirus-related PPP loan from the SBA of $25,500.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least three people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Vonk Farms, Inc in Ireton, IA received a Paycheck Protection Loan of $25,500 through Primebank, 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
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, Vonk Farms, Inc's 2019 payroll expenses are estimated to be at least $122,400.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,800 per employee1
Reported PPP Proceed Usage:
On the PPP application, Vonk Farms, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,500
Business Information - Vonk Farms, Inc in Ireton, IA
2490 400th Street
Ireton, IA 51027
All Other Miscellaneous Crop Farming
NAICS code 111998
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Ireton
In the Ireton area, 9 businesses in the "All Other Miscellaneous Crop Farming" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 3) and received an average PPP loan of $17,145 (compared to this company's $25,500).
Similar Nearby Businesses Who Received PPP Funding:
Marvin Van Voorst
Larry D Janssen
Hulshof Farms, Inc
Randall Van Beek
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, 100% higher than Vonk Farms, Inc's reported 3 employees, and received an average PPP loan of $41,062, 61% higher than this company's loan of $25,500.
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Footnotes & Information
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