PPP Loan Data — Ferrand Square Logistics Inc, Trafalgar, IN
Ferrand Square Logistics Inc is a subchapter s corporation located at 5988 S 50 W in Trafalgar, Indiana that received a Coronavirus-related PPP loan from the SBA of $25,290.00 in May, 2020.
The company has reported itself as a male owned business, and employed at least three people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:The Huntington National Bank
Ferrand Square Logistics Inc in Trafalgar, IN received a Paycheck Protection Loan of $25,290 through The Huntington National Bank, which was approved in May, 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
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, Ferrand Square Logistics Inc's 2019 payroll expenses are estimated to be at least $121,392.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,464 per employee1
Reported PPP Proceed Usage:
On the PPP application, Ferrand Square Logistics Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,290
Business Information - Ferrand Square Logistics Inc in Trafalgar, IN
5988 S 50 W
Trafalgar, IN 46181
All Other Support Activities for Transportation
NAICS code 488999
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 18,826 businesses in the "All Other Support Activities for Transportation" industry received a total of $765.1M 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, 100% higher than Ferrand Square Logistics Inc's reported 3 employees, and received an average PPP loan of $40,641, 61% higher than this company's loan of $25,290.
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Footnotes & Information
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