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PPP Loan Data — Eagle Financial Services, Inc,
Florence, KY
Eagle Financial Services, Inc
Entity: Subchapter S Corporation
Industry: All Other Nondepository Credit Intermediation
Location: Florence, KY
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Eagle Financial Services, Inc is a subchapter s corporation located at 7791 Dixie Highway Ste. B in Florence, Kentucky that received a Coronavirus-related PPP loan from the SBA of $5,150,572.00 in April, 2020.
$
PPP Loan Information
Loan #9716827109
Loan Size:
Jobs Retained:
409Loan Approved:
2020-04-15Loan Status:
Ongoing LoanLender:
Texas Capital BankEagle Financial Services, Inc in Florence, KY received a Paycheck Protection Loan of $5.15M through Texas Capital Bank, 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.
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 MoreUnderstanding 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 MoreBased 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 Financial Services, Inc's 2019 payroll expenses are estimated to be at least $24.72M.
Based on their reported 409 jobs retained, this equals an estimated average yearly compensation of $60,447 per employee1
Reported PPP Proceed Usage:
On the PPP application, Eagle Financial Services, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,862,929
- Utilities: $244,652
- Rent: $1,042,991
Business Information - Eagle Financial Services, Inc in Florence, KY
7791 Dixie Highway Ste. B
Florence, KY 41042
Business Industry:
All Other Nondepository Credit Intermediation
NAICS code 522298
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: N
Rural / Urban: Urban
Similar Companies near Florence
In the Florence area, 2 businesses in the "All Other Nondepository Credit Intermediation" industry received a PPP loan. These local businesses reported an average of 221 employees (compared to this company's 409) and received an average PPP loan of $2,768,481 (compared to this company's $5.15M).
Similar Nearby Businesses Who Received PPP Funding:
Sunrise Finance Company
Florence, KY
Industry PPP Comparison Statistics
Nationwide, 2,768 businesses in the "All Other Nondepository Credit Intermediation" industry received a total of $240.18M 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 8 employees, 98% lower than Eagle Financial Services, Inc's reported 409 employees, and received an average PPP loan of $86,769, 98% lower than this company's loan of $5.15M.
Eagle Financial Services, Inc
Entity: Limited Liability Company (LLC)
Industry: Tire Dealers
Location: Florence, KY
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Eagle Financial Services, Inc is a limited liability company (LLC) located at 7791 Dixie Highway in Florence, Kentucky that received a Coronavirus-related PPP loan from the SBA of $274,324.00 in April, 2020.
$
PPP Loan Information
Loan #3469207105
Loan Size:
Jobs Retained:
30Loan Approved:
2020-04-11Loan Status:
Ongoing LoanLender:
Texas Capital BankEagle Financial Services, Inc in Florence, KY received a Paycheck Protection Loan of $274,324 through Texas Capital Bank, 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.
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 MoreUnderstanding 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 MoreBased 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 Financial Services, Inc's 2019 payroll expenses are estimated to be at least $1.32M.
Based on their reported 30 jobs retained, this equals an estimated average yearly compensation of $43,892 per employee1
Reported PPP Proceed Usage:
On the PPP application, Eagle Financial Services, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $205,743
- Utilities: $12,687
- Rent: $55,894
Business Information - Eagle Financial Services, Inc in Florence, KY
7791 Dixie Highway
Florence, KY 41017
Business Industry:
Tire Dealers
NAICS code 441320
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: N
Rural / Urban: Urban
Similar Companies near Florence
In the Florence area, 3 businesses in the "Tire Dealers" industry received a PPP loan. These local businesses reported an average of 120 employees (compared to this company's 30) and received an average PPP loan of $1,311,189 (compared to this company's $274,324).
Similar Nearby Businesses Who Received PPP Funding:
Performance Tire Inc
Erlanger, KY
Bob Sumerel Tire Co., Inc
Erlanger, KY
Industry PPP Comparison Statistics
Nationwide, 8,304 businesses in the "Tire Dealers" industry received a total of $773.5M 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, 67% lower than Eagle Financial Services, Inc's reported 30 employees, and received an average PPP loan of $93,148, 66% lower than this company's loan of $274,324.
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.
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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