PPP Loan Data — Diversified Equipment Group LLC, Morristown, IN
Diversified Equipment Group LLC is a limited liability company (LLC) located at 8847 N 150 E in Morristown, Indiana that received a Coronavirus-related PPP loan from the SBA of $25,273.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Mutual Savings Bank
Diversified Equipment Group LLC in Morristown, IN received a Paycheck Protection Loan of $25,273 through Mutual Savings Bank, 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 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, Diversified Equipment Group LLC's 2019 payroll expenses are estimated to be at least $121,310.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,437 per employee1
Reported PPP Proceed Usage:
On the PPP application, Diversified Equipment Group LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,273
Business Information - Diversified Equipment Group LLC in Morristown, IN
8847 N 150 E
Morristown, IN 46161
Other Commercial Equipment Merchant Wholesalers
NAICS code 423440
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 3,908 businesses in the "Other Commercial Equipment Merchant Wholesalers" industry received a total of $496.22M 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 11 employees, 267% higher than Diversified Equipment Group LLC's reported 3 employees, and received an average PPP loan of $126,976, 402% higher than this company's loan of $25,273.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!