PPP Loan Data — H. L. Porter Trucking, LLC, Decatur, IL
H. L. Porter Trucking, LLC
Entity: Limited Liability Company (LLC)
Location: Decatur, ILTweet This • Search All PPP Data
H. L. Porter Trucking, LLC is a limited liability company (LLC) located at 14 Greenridge Dr in Decatur, Illinois that received a Coronavirus-related PPP loan from the SBA of $46,600.00 in April, 2020.
The company has reported itself as a Black or african american male veteran owned business, and employed at least four people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Land of Lincoln CU
H. L. Porter Trucking, LLC in Decatur, IL received a Paycheck Protection Loan of $46,600 through Land of Lincoln CU, 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, H. L. Porter Trucking, LLC's 2019 payroll expenses are estimated to be at least $223,680.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $55,920 per employee1
Reported PPP Proceed Usage:
On the PPP application, H. L. Porter Trucking, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $45,200
- Utilities: $1,400
Business Information - H. L. Porter Trucking, LLC in Decatur, IL
14 Greenridge Dr
Decatur, IL 62526
General Freight Trucking, Long-Distance, Truckload
NAICS code 484121
Business Owner Demographics
Race: Black or African American
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Decatur
In the Decatur area, 7 businesses in the "General Freight Trucking, Long-Distance, Truckload" industry received a PPP loan. These local businesses reported an average of 65 employees (compared to this company's 4) and received an average PPP loan of $690,911 (compared to this company's $46,600).
Similar Nearby Businesses Who Received PPP Funding:
Gregory V. Babb
MRM Holding Company, Inc
Albert Dale Edwards
Durbin Logistics LLC
Ricky L Fombelle
Industry PPP Comparison Statistics
Nationwide, 116,089 businesses in the "General Freight Trucking, Long-Distance, Truckload" industry received a total of $4.64B 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 3 employees, 25% lower than H. L. Porter Trucking, LLC's reported 4 employees, and received an average PPP loan of $39,939, 14% lower than this company's loan of $46,600.
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