PPP Loan Data — Wellesley Farms, Inc, Potlatch, ID
Wellesley Farms, Inc is a corporation located at 1155 Highway 5 in Potlatch, Idaho that received a Coronavirus-related PPP loan from the SBA of $25,151.00 in June, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:State Bank Northwest
Wellesley Farms, Inc in Potlatch, ID received a Paycheck Protection Loan of $25,151 through State Bank Northwest, which was approved in June, 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, Wellesley Farms, Inc's 2019 payroll expenses are estimated to be at least $120,725.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,363 per employee1
Reported PPP Proceed Usage:
On the PPP application, Wellesley Farms, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,151
Business Information - Wellesley Farms, Inc in Potlatch, ID
1155 Highway 5
Potlatch, ID 83855
NAICS code 111140
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Potlatch
In the Potlatch area, 7 businesses in the "Wheat Farming" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 2) and received an average PPP loan of $19,528 (compared to this company's $25,151).
Similar Nearby Businesses Who Received PPP Funding:
Sawyer Farms LLC
Joe And Pam Anderson, Joint Venture
Industry PPP Comparison Statistics
Nationwide, 12,730 businesses in the "Wheat Farming" industry received a total of $250.14M 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 2 employees, the same amount reported by Wellesley Farms, Inc and received an average PPP loan of $19,650, 22% lower than this company's loan of $25,151.
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Footnotes & Information
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