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PPP Loan Data — Brain Cox, Memphis, TN

SBA PPP loan data, payroll data, and salaries for Brain Cox
TN

Brain Cox

Entity: Sole Proprietorship

Industry: Motor Vehicle Towing

Location: Memphis, TN

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Brain Cox is a sole proprietorship located in Memphis, Tennessee that received a Coronavirus-related PPP loan from the SBA of $20,576.00 in May, 2021.

$ PPP Loan Information
Loan #9253829006

Loan Size:

$20,576

Jobs Retained:

1

Loan Approved:

2021-05-29

Loan Status:

Active Un-Disbursed

Lender:

Harvest Small Business Finance, LLC
PPP Funds Undisbursed

Brain Cox in Memphis, TN received a Paycheck Protection Loan of $20,576 through Harvest Small Business Finance, LLC, which was approved in May, 2021.

While this loan has been approved by the Small Business Administration, the lender has not reported to the SBA that the loan funds were disbursed to the borrower. According to SBA records, a total of $20,576 in approved PPP funding has not been disbursed. The loan's status was last updated by the SBA in May, 2021.


PPP Calculation Note: The total PPP loan an eligible business or individual can receive is based on 2.5 times their average monthly 2019 payroll expenses, capped at $100,000 annually per employee.

Reported PPP Proceed Usage:

On the PPP application, Brain Cox reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $20,576

Business Information - Brain Cox in Memphis, TN

Brain Cox
Memphis, TN
* Full address is redacted to protect the privacy of individuals.

Business Industry:
Motor Vehicle Towing
NAICS code 488410

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: N

Rural / Urban: Urban

Shelby County, TN — SBA Office 0474 — Congressional District: TN-09

Similar Companies near Memphis

In the Memphis area, 23 businesses in the "Motor Vehicle Towing" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 1) and received an average PPP loan of $32,736 (compared to this company's $20,576).

Industry PPP Comparison Statistics

Nationwide, 17,547 businesses in the "Motor Vehicle Towing" industry received a total of $912.17M 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, 500% higher than Brain Cox's reported 1 employees, and received an average PPP loan of $51,984, 153% higher than this company's loan of $20,576.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

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Footnotes & Information

1. Estimations for informational purposes only. 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/brain-cox-memphis-tn