PPP Loan Data — Heyl Truck Lines, Inc., Akron, IA
Heyl Truck Lines, Inc.
Location: Akron, IATweet This • Search All PPP Data
Heyl Truck Lines, Inc. is a corporation located at Po Box 500 in Akron, Iowa that received a Coronavirus-related PPP loan from the SBA of $4,387,916.00 in April, 2020.
$ PPP Loan Information
Lender:U.S. BANK, NATIONAL ASSOCIATION
Heyl Truck Lines, Inc. in Akron, IA received a Paycheck Protection Loan of $4.39M through U.S. BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Heyl Truck Lines, Inc.'s total 2019 payroll expenses were approximately $21.06M in order to qualify for the PPP loan amount received.
Based on their reported 382 jobs retained, this equals an estimated average yearly compensation of $55,136 per employee1.
Business Information - Heyl Truck Lines, Inc. in Akron, IA
Po Box 500
Akron, IA 51001
General Freight Trucking, Long-Distance, Truckload (NAICS code 484121)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: IA-04
Similar Companies near Akron
In the Akron area, 5 businesses in the "General Freight Trucking, Long-Distance, Truckload" industry received a PPP loan. These local businesses reported an average of 77 employees (compared to this company's 382) and received an average PPP loan of $888,009 (compared to this company's $4.39M).
Similar Nearby Businesses Who Received PPP Funding:
Dale B Wetherell
Travis W. Flink
Dane P. Lenhart
Industry PPP Comparison Statistics
Nationwide, 30,410 businesses in the "General Freight Trucking, Long-Distance, Truckload" industry received a total of $2,441,673,488.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 6 employees, 98% lower than Heyl Truck Lines, Inc.'s reported 382 employees, and received an average PPP loan of $80,292, 98% lower than this company's loan of $4.39M.
FederalPay's PPP Information Policy
Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan. All information displayed on this page is publicly available information under PPP loan guidelines, and is published unmodified, as provided by the SBA.
Footnotes & Information
1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.
2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.
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