PPP Loan Data — Evans Farms Trucking, LLC, Elkton, KY
Evans Farms Trucking, LLC is a limited liability company (LLC) located at 870 Miller Valley Rd in Elkton, Kentucky that received a Coronavirus-related PPP loan from the SBA of $46,664.00 in June, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Elkton Bank & Trust Company
Evans Farms Trucking, LLC in Elkton, KY received a Paycheck Protection Loan of $46,664 through Elkton Bank & Trust Company, which was approved in June, 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 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, Evans Farms Trucking, LLC's 2019 payroll expenses are estimated to be at least $223,987.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $55,997 per employee1
Reported PPP Proceed Usage:
On the PPP application, Evans Farms Trucking, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,664
Business Information - Evans Farms Trucking, LLC in Elkton, KY
870 Miller Valley Rd
Elkton, KY 42220
General Freight Trucking, Local
NAICS code 484110
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Elkton
In the Elkton area, 8 businesses in the "General Freight Trucking, Local" industry received a PPP loan. These local businesses reported an average of 14 employees (compared to this company's 4) and received an average PPP loan of $118,617 (compared to this company's $46,664).
Similar Nearby Businesses Who Received PPP Funding:
Ronald W Powell Trucking
Jeff Lear Trucking, LLC
Thomas Scott Keeling
Carver Trucking, LLC
John M Sisco
Victor Powell Trucking
Industry PPP Comparison Statistics
Nationwide, 175,867 businesses in the "General Freight Trucking, Local" industry received a total of $6.6B in PPP loans. These businesses account for 1% 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, the same amount reported by Evans Farms Trucking, LLC and received an average PPP loan of $37,520, 20% lower than this company's loan of $46,664.
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Footnotes & Information
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