PPP Loan Data — Coffeys Trucking & Excavating, Columbia, KY
Coffeys Trucking & Excavating is a sole proprietorship located at 1297 Flatwoods Rd. in Columbia, Kentucky that received a Coronavirus-related PPP loan from the SBA of $25,118.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least three people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:United Citizens Bank of Southern Kentucky, Inc.
Coffeys Trucking & Excavating in Columbia, KY received a Paycheck Protection Loan of $25,118 through United Citizens Bank of Southern Kentucky, Inc., 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 December, 2020.
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, Coffeys Trucking & Excavating's 2019 payroll expenses are estimated to be at least $120,566.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,189 per employee1
Reported PPP Proceed Usage:
On the PPP application, Coffeys Trucking & Excavating reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $20,094
- Utilities: $2,512
- Mortgage Interest: $2,512
Business Information - Coffeys Trucking & Excavating in Columbia, KY
1297 Flatwoods Rd.
Columbia, KY 42728
General Freight Trucking, Local
NAICS code 484110
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Columbia
In the Columbia area, 26 businesses in the "General Freight Trucking, Local" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 3) and received an average PPP loan of $46,420 (compared to this company's $25,118).
Similar Nearby Businesses Who Received PPP Funding:
Milton E. Cummings
Cub Run, KY
John S. Edwards
Hargis Trucking, Inc
Garry W Bryant
Kent Murrell Jr
Industry PPP Comparison Statistics
Nationwide, 175,867 businesses in the "General Freight Trucking, Local" industry received a total of $6.6B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 4 employees, 33% higher than Coffeys Trucking & Excavating's reported 3 employees, and received an average PPP loan of $37,520, 49% higher than this company's loan of $25,118.
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Footnotes & Information
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