PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Eagle Eye Truck Lines LLC, Grand Rapids, MI

ALERT: There are 2 PPP loans for a total of $1.11M in our database for businesses with the name "Eagle Eye Truck Lines LLC" in Grand Rapids, MI. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Eagle Eye Truck Lines LLC
MI

Eagle Eye Truck Lines LLC

Entity: Limited Liability Company (LLC)

Industry: General Freight Trucking, Long-Distance, Truckload

Location: Grand Rapids, MI

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Eagle Eye Truck Lines LLC is a limited liability company (LLC) located at 560 56th St Sw in Grand Rapids, Michigan that received a Coronavirus-related PPP loan from the SBA of $503,300.00 in January, 2021.

The company has reported itself as a male owned business, and employed at least 70 people during the applicable loan loan period.

$ PPP Loan Information
Loan #1135148304

Loan Size:

$503,300

Jobs Retained:

70

Loan Approved:

2021-01-16

Loan Status:

Ongoing Loan

Lender:

Newtek Small Business Finance, Inc.

Eagle Eye Truck Lines LLC in Grand Rapids, MI received a Paycheck Protection Loan of $503,300 through Newtek Small Business Finance, Inc., which was approved in January, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA. The loan's status was last updated by the SBA in November, -0001.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Eagle Eye Truck Lines LLC's 2019 payroll expenses are estimated to be at least $2.42M.

Based on their reported 70 jobs retained, this equals an estimated average yearly compensation of $34,512 per employee1

Reported PPP Proceed Usage:

On the PPP application, Eagle Eye Truck Lines LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $503,299
  • Utilities: $1

Business Information - Eagle Eye Truck Lines LLC in Grand Rapids, MI

Eagle Eye Truck Lines LLC
560 56th St Sw
Grand Rapids, MI 49548

Business Industry:
General Freight Trucking, Long-Distance, Truckload
NAICS code 484121

Business Owner Demographics

Race: Unreported

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: N

Rural / Urban: Urban

Kent County, MI — SBA Office 0515 — Congressional District: MI-02

Similar Companies near Grand Rapids

In the Grand Rapids area, 47 businesses in the "General Freight Trucking, Long-Distance, Truckload" industry received a PPP loan. These local businesses reported an average of 26 employees (compared to this company's 70) and received an average PPP loan of $330,997 (compared to this company's $503,300).

Industry PPP Comparison Statistics

Nationwide, 112,754 businesses in the "General Freight Trucking, Long-Distance, Truckload" industry received a total of $4.56B 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 4 employees, 94% lower than Eagle Eye Truck Lines LLC's reported 70 employees, and received an average PPP loan of $40,459, 92% lower than this company's loan of $503,300.

SBA PPP loan data, payroll data, and salaries for Eagle Eye Truck Lines LLC
MI

Eagle Eye Truck Lines LLC

Entity: Limited Liability Company (LLC)

Industry: General Freight Trucking, Local

Location: Grand Rapids, MI

Search All PPP Data

Eagle Eye Truck Lines LLC is a limited liability company (LLC) located at 560 56th St Sw in Grand Rapids, Michigan that received a Coronavirus-related PPP loan from the SBA of $607,600.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 54 people during the applicable loan loan period.

$ PPP Loan Information
Loan #6657887002

Loan Size:

$607,600

Jobs Retained:

54

Loan Approved:

2020-04-07

Loan Status:

Ongoing Loan

Lender:

Newtek Small Business Finance, Inc.

Eagle Eye Truck Lines LLC in Grand Rapids, MI received a Paycheck Protection Loan of $607,600 through Newtek Small Business Finance, Inc., which was approved in April, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA. The loan's status was last updated by the SBA in November, -0001.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Eagle Eye Truck Lines LLC's 2019 payroll expenses are estimated to be at least $2.92M.

Based on their reported 54 jobs retained, this equals an estimated average yearly compensation of $54,009 per employee1

Reported PPP Proceed Usage:

On the PPP application, Eagle Eye Truck Lines LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $607,600

Business Information - Eagle Eye Truck Lines LLC in Grand Rapids, MI

Eagle Eye Truck Lines LLC
560 56th St Sw
Grand Rapids, MI 49548

Business Industry:
General Freight Trucking, Local
NAICS code 484110

Business Owner Demographics

Race: Unreported

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: N

Rural / Urban: Urban

Kent County, MI — SBA Office 0515 — Congressional District: MI-02

Similar Companies near Grand Rapids

In the Grand Rapids area, 16 businesses in the "General Freight Trucking, Local" industry received a PPP loan. These local businesses reported an average of 19 employees (compared to this company's 54) and received an average PPP loan of $142,558 (compared to this company's $607,600).

Industry PPP Comparison Statistics

Nationwide, 172,322 businesses in the "General Freight Trucking, Local" industry received a total of $6.52B in PPP loans. These businesses account for 2% 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, 93% lower than Eagle Eye Truck Lines LLC's reported 54 employees, and received an average PPP loan of $37,823, 94% lower than this company's loan of $607,600.

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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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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Source: www.federalpay.org/paycheck-protection-program/eagle-eye-truck-lines-llc-grand-rapids-mi