PPP Loan Data — Gaskins Brothers Inc, Hendersonville, TN
Gaskins Brothers Inc is a subchapter s corporation located at Free Hill Rd in Hendersonville, Tennessee that received a Coronavirus-related PPP loan from the SBA of $2,309,042.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Gaskins Brothers Inc in Hendersonville, TN received a Paycheck Protection Loan of $2.31M through Bank3, which was approved in April, 2020.
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, Gaskins Brothers Inc's 2019 payroll expenses are estimated to be at least $11.08M.
Based on their reported 154 jobs retained, this equals an estimated average yearly compensation of $71,970 per employee1
Reported PPP Proceed Usage:
On the PPP application, Gaskins Brothers Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,309,042
Business Information - Gaskins Brothers Inc in Hendersonville, TN
Free Hill Rd
Hendersonville, TN 37075
Other Building Material Dealers
NAICS code 444190
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Hendersonville
In the Hendersonville area, 3 businesses in the "Other Building Material Dealers" industry received a PPP loan. These local businesses reported an average of 55 employees (compared to this company's 154) and received an average PPP loan of $795,032 (compared to this company's $2.31M).
Similar Nearby Businesses Who Received PPP Funding:
Old Country Woodworks, LLC
Luminosity Lighting Gallery LLC
Industry PPP Comparison Statistics
Nationwide, 11,057 businesses in the "Other Building Material Dealers" industry received a total of $1.4B 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 12 employees, 92% lower than Gaskins Brothers Inc's reported 154 employees, and received an average PPP loan of $126,460, 95% lower than this company's loan of $2.31M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!