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PPP Loan Data — Walther Farms LLC, Three Rivers, MI

SBA PPP loan data, payroll data, and salaries for Walther Farms LLC
MI

Walther Farms LLC

Entity: Limited Liability Company (LLC)

Industry: Potato Farming

Location: Three Rivers, MI

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Walther Farms LLC is a limited liability company (LLC) located at 52944 N Us Highway 131 in Three Rivers, Michigan that received a Coronavirus-related PPP loan from the SBA of $3,999,300.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$4M

Jobs Retained:

443

Loan Approved:

2020-04-08

Lender:

GREENSTONE FARM CREDIT SERVICES, ACA

Walther Farms LLC received a Paycheck Protection Loan of $4M through GREENSTONE FARM CREDIT SERVICES, ACA, which was approved in April, 2020.

Based on standard PPP eligibility rules, Walther Farms LLC's total 2019 payroll expenses were approximately $19.2M in order to qualify for the PPP loan amount received.

Based on their reported 443 jobs retained, this equals an estimated average yearly compensation of $43,333 per employee1.

Because the loan received by Walther Farms LLC 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 - Walther Farms LLC in Three Rivers, MI

Walther Farms LLC
52944 N Us Highway 131
Three Rivers, MI 49093

Business Industry

Potato Farming (NAICS code 111211)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MI-06

Industry PPP Comparison Statistics

Nationwide, 1,654 businesses in the "Potato Farming" industry received a total of $167,886,402.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 13 employees, 97% lower than Walther Farms LLC's reported 443 employees, and received an average PPP loan of $101,503, 97% lower than this company's loan of $4M.

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.

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Footnotes & Information

1. 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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/walther-farms-llc-three-rivers-mi