PPP Loan Data — Cortez Livestock Auction, Inc, Cortez, CO
Cortez Livestock Auction, Inc is a corporation located at 23783 Road M in Cortez, Colorado that received a Coronavirus-related PPP loan from the SBA of $25,300.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Zions Bank, A Division of
Cortez Livestock Auction, Inc in Cortez, CO received a Paycheck Protection Loan of $25,300 through Zions Bank, A Division of, which was approved in May, 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 February, 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, Cortez Livestock Auction, Inc's 2019 payroll expenses are estimated to be at least $121,440.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $17,349 per employee1
Reported PPP Proceed Usage:
On the PPP application, Cortez Livestock Auction, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,300
Business Information - Cortez Livestock Auction, Inc in Cortez, CO
23783 Road M
Cortez, CO 81321
Livestock Merchant Wholesalers
NAICS code 424520
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 1,681 businesses in the "Livestock Merchant Wholesalers" industry received a total of $90.05M 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 10 employees, 43% higher than Cortez Livestock Auction, Inc's reported 7 employees, and received an average PPP loan of $53,572, 112% higher than this company's loan of $25,300.
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Footnotes & Information
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