PPP Loan Data — Eric Shields, Carbondale, IL
Eric Shields is a sole proprietorship located at 926 Ponce Trl in Carbondale, Illinois that received a Coronavirus-related PPP loan from the SBA of $46,676.00 in January, 2021.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Murphy-Wall State Bank and Trust Company
Eric Shields in Carbondale, IL received a Paycheck Protection Loan of $46,676 through Murphy-Wall State Bank and Trust Company, which was approved in January, 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, Eric Shields' 2019 payroll expenses are estimated to be at least $224,045.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $44,809 per employee1
Reported PPP Proceed Usage:
On the PPP application, Eric Shields reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,673
- Utilities: $1
Business Information - Eric Shields in Carbondale, IL
926 Ponce Trl
Carbondale, IL 62901
NAICS code 111110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Similar Companies near Carbondale
In the Carbondale area, 2 businesses in the "Soybean Farming" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 5) and received an average PPP loan of $33,755 (compared to this company's $46,676).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 57,165 businesses in the "Soybean Farming" industry received a total of $1.13B 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 2 employees, 60% lower than Eric Shields' reported 5 employees, and received an average PPP loan of $19,731, 58% lower than this company's loan of $46,676.
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