PPP Loan Data — General Logistics, Inc, Davenport, IA
General Logistics, Inc
Entity: Subchapter S Corporation
Location: Davenport, IATweet This • Search All PPP Data
General Logistics, Inc is a subchapter s corporation located at 5000 Tremont Avenue, Suite 300 B in Davenport, Iowa that received a Coronavirus-related PPP loan from the SBA of $2,513,289.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Quad City Bank and Trust Company
General Logistics, Inc in Davenport, IA received a Paycheck Protection Loan of $2.51M through Quad City Bank and Trust Company, 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, General Logistics, Inc's 2019 payroll expenses are estimated to be at least $12.06M.
Based on their reported 147 jobs retained, this equals an estimated average yearly compensation of $82,067 per employee1
Reported PPP Proceed Usage:
On the PPP application, General Logistics, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,513,289
Business Information - General Logistics, Inc in Davenport, IA
5000 Tremont Avenue, Suite 300 B
Davenport, IA 52807
General Freight Trucking, Long-Distance, Less Than Truckload
NAICS code 484122
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Davenport
In the Davenport area, 4 businesses in the "General Freight Trucking, Long-Distance, Less Than Truckload" industry received a PPP loan. These local businesses reported an average of 44 employees (compared to this company's 147) and received an average PPP loan of $680,946 (compared to this company's $2.51M).
Similar Nearby Businesses Who Received PPP Funding:
RC. Iossi Co. LLC
U.s. Cartage Corporation
Industry PPP Comparison Statistics
Nationwide, 12,141 businesses in the "General Freight Trucking, Long-Distance, Less Than Truckload" industry received a total of $564.45M 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 4 employees, 97% lower than General Logistics, Inc's reported 147 employees, and received an average PPP loan of $46,492, 98% lower than this company's loan of $2.51M.
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Footnotes & Information
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