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PPP Loan Data — Choptank Transport, Inc, Preston, MD

SBA PPP loan data, payroll data, and salaries for Choptank Transport, Inc
MD

Choptank Transport, Inc

Entity: Corporation

Industry: Freight Transportation Arrangement

Location: Preston, MD

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Choptank Transport, Inc is a corporation located at 3601 Choptank Road in Preston, Maryland that received a Coronavirus-related PPP loan from the SBA of $4,744,400.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$4.74M

Jobs Retained:

0 Unreported

Loan Approved:

2020-04-12

Lender:

PNC BANK, NATIONAL ASSOCIATION

Choptank Transport, Inc in Preston, MD received a Paycheck Protection Loan of $4.74M through PNC BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Choptank Transport, Inc's total 2019 payroll expenses were approximately $22.77M in order to qualify for the PPP loan amount received.

Unlike most businesses, Choptank Transport, Inc's PPP data does not report the number of jobs retained by their receipt of the Paycheck Protection Loan (some banks did not release this infomation from their loan applications). Without this data, per-employee payrolls for this company cannot be estimated.

Because the loan received by Choptank Transport, Inc 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 - Choptank Transport, Inc in Preston, MD

Choptank Transport, Inc
3601 Choptank Road
Preston, MD 21655

Business Industry

Freight Transportation Arrangement (NAICS code 488510)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MD-01

Industry PPP Comparison Statistics

Nationwide, 10,632 businesses in the "Freight Transportation Arrangement" industry received a total of $1,273,457,640.00 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 10 employees, and received an average PPP loan of $119,776, 97% lower than this company's loan of $4.74M.

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, 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/choptank-transport-inc-preston-md