PPP Loan Data — I-77 Truck Service Corp, Lodi, OH
I-77 Truck Service Corp
Entity: Subchapter S Corporation
Location: Lodi, OHTweet This • Search All PPP Data
I-77 Truck Service Corp is a subchapter s corporation located at 120 West Drive in Lodi, Ohio that received a Coronavirus-related PPP loan from the SBA of $25,200.00 in June, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:The Huntington National Bank
I-77 Truck Service Corp in Lodi, OH received a Paycheck Protection Loan of $25,200 through The Huntington National Bank, which was approved in June, 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, I-77 Truck Service Corp's 2019 payroll expenses are estimated to be at least $120,960.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,192 per employee1
Reported PPP Proceed Usage:
On the PPP application, I-77 Truck Service Corp reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,200
Business Information - I-77 Truck Service Corp in Lodi, OH
120 West Drive
Lodi, OH 44254
General Freight Trucking, Long-Distance, Truckload
NAICS code 484121
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Lodi
In the Lodi area, 4 businesses in the "General Freight Trucking, Long-Distance, Truckload" industry received a PPP loan. These local businesses reported an average of 39 employees (compared to this company's 5) and received an average PPP loan of $493,683 (compared to this company's $25,200).
Similar Nearby Businesses Who Received PPP Funding:
AWL Transport, Inc
Different Breed Logistics LLC
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, 40% lower than I-77 Truck Service Corp's reported 5 employees, and received an average PPP loan of $39,939, 58% higher than this company's loan of $25,200.
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