PPP Loan Data — Winfield AG Enterprises, Inc, Olivia, MN
Winfield AG Enterprises, Inc is a subchapter s corporation located at 33497 850th Ave in Olivia, Minnesota that received a Coronavirus-related PPP loan from the SBA of $25,100.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least four people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Winfield AG Enterprises, Inc in Olivia, MN received a Paycheck Protection Loan of $25,100 through FM 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 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, Winfield AG Enterprises, Inc's 2019 payroll expenses are estimated to be at least $120,480.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,120 per employee1
Reported PPP Proceed Usage:
On the PPP application, Winfield AG Enterprises, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,100
Business Information - Winfield AG Enterprises, Inc in Olivia, MN
33497 850th Ave
Olivia, MN 56277
Hog and Pig Farming
NAICS code 112210
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Olivia
In the Olivia area, 7 businesses in the "Hog and Pig Farming" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 4) and received an average PPP loan of $19,181 (compared to this company's $25,100).
Similar Nearby Businesses Who Received PPP Funding:
Erickson Farms Of Olivia Inc
Industry PPP Comparison Statistics
Nationwide, 10,861 businesses in the "Hog and Pig Farming" industry received a total of $356.88M 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 4 employees, the same amount reported by Winfield AG Enterprises, Inc and received an average PPP loan of $32,859, 31% higher than this company's loan of $25,100.
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Footnotes & Information
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