PPP Loan Data — Elonoc Towing LLC, Churchville, NY
Elonoc Towing LLC is a limited liability company (LLC) located at 525 Attridge Road in Churchville, New York that received a Coronavirus-related PPP loan from the SBA of $24,900.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Manufacturers and Traders Trust Company
Elonoc Towing LLC in Churchville, NY received a Paycheck Protection Loan of $24,900 through Manufacturers and Traders Trust Company, 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 June, 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, Elonoc Towing LLC's 2019 payroll expenses are estimated to be at least $119,520.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $29,880 per employee1
Reported PPP Proceed Usage:
On the PPP application, Elonoc Towing LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $18,700
- Utilities: $1,200
- Rent: $4,500
- Health Care: $500
Business Information - Elonoc Towing LLC in Churchville, NY
525 Attridge Road
Churchville, NY 14428
Motor Vehicle Towing
NAICS code 488410
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Churchville
In the Churchville area, 2 businesses in the "Motor Vehicle Towing" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 4) and received an average PPP loan of $61,452 (compared to this company's $24,900).
Similar Nearby Businesses Who Received PPP Funding:
James M Fodge Inc
Industry PPP Comparison Statistics
Nationwide, 17,547 businesses in the "Motor Vehicle Towing" industry received a total of $912.17M 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 6 employees, 50% higher than Elonoc Towing LLC's reported 4 employees, and received an average PPP loan of $51,984, 109% higher than this company's loan of $24,900.
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Footnotes & Information
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