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PPP Loan Data — Heyl Truck Lines, Inc., Akron, IA

SBA PPP loan data, payroll data, and salaries for Heyl Truck Lines, Inc.
IA

Heyl Truck Lines, Inc.

Entity: Corporation

Industry: General Freight Trucking, Long-Distance, Truckload

Location: Akron, IA

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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

Loan Size:

$4.39M

Jobs Retained:

382

Loan Approved:

2020-04-28

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.

Because the loan received by Heyl Truck Lines, Inc. is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Heyl Truck Lines, Inc. in Akron, IA

Heyl Truck Lines, Inc.
Po Box 500
Akron, IA 51001

Business Industry

General Freight Trucking, Long-Distance, Truckload (NAICS code 484121)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional 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).

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.

Search FederalPay's Full PPP Loan Database

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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Source: www.federalpay.org/paycheck-protection-program/heyl-truck-lines-inc-akron-ia