PPP Loan Data — Cutter, LLC, Franklin, TN
Cutter, LLC is a sole proprietorship located in Franklin, Tennessee that received a Coronavirus-related PPP loan from the SBA of $25,200.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Cutter, LLC in Franklin, TN received a Paycheck Protection Loan of $25,200 through ServisFirst Bank, which was approved in April, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 1. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
Reported PPP Proceed Usage:
On the PPP application, Cutter, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,200
Business Information - Cutter, LLC in Franklin, TN
* Full address is redacted to protect the privacy of individuals.
Miscellaneous Financial Investment Activities
NAICS code 523999
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Franklin
In the Franklin area, 15 businesses in the "Miscellaneous Financial Investment Activities" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 1) and received an average PPP loan of $33,583 (compared to this company's $25,200).
Similar Nearby Businesses Who Received PPP Funding:
John Scoble DBA Financial Income Strategies
Jesse Holman DBA None
Fee-Only Financial Solutions PC
TPG Financial Inc
United States Equities Inc
KT Financial Concierge LLC
Freeman Wealth Management LLC
Rome Capital Management, Inc
Grant Group, LLC
Industry PPP Comparison Statistics
Nationwide, 12,855 businesses in the "Miscellaneous Financial Investment Activities" industry received a total of $583.39M 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 3 employees, 200% higher than Cutter, LLC's reported 1 employees, and received an average PPP loan of $45,383, 80% higher than this company's loan of $25,200.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
Have FederalPay.org's open data tools been valuable? Consider donating!