PPP Loan Data — Cell Tech Express LLC, Flatwoods, KY
Cell Tech Express LLC is a limited liability company (LLC) located at 2410 Argillite Rd in Flatwoods, Kentucky that received a Coronavirus-related PPP loan from the SBA of $25,336.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Square Capital, LLC
Cell Tech Express LLC in Flatwoods, KY received a Paycheck Protection Loan of $25,336 through Square Capital, LLC, 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 March, 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, Cell Tech Express LLC's 2019 payroll expenses are estimated to be at least $121,613.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $20,269 per employee1
Reported PPP Proceed Usage:
On the PPP application, Cell Tech Express LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $15,336
- Refinance EIDL: $10,000
Business Information - Cell Tech Express LLC in Flatwoods, KY
2410 Argillite Rd
Flatwoods, KY 41139
NAICS code 443142
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Flatwoods
In the Flatwoods area, 2 businesses in the "Electronics Stores" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 6) and received an average PPP loan of $37,418 (compared to this company's $25,336).
Similar Nearby Businesses Who Received PPP Funding:
Lite The Nite Custom Inverters LLC
Industry PPP Comparison Statistics
Nationwide, 13,096 businesses in the "Electronics Stores" industry received a total of $848.58M 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 8 employees, 33% higher than Cell Tech Express LLC's reported 6 employees, and received an average PPP loan of $64,797, 156% higher than this company's loan of $25,336.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!