PPP Loan Data — Indian Trails Inc, Owosso, MI
Indian Trails Inc is a corporation located at 109 E Comstock St in Owosso, Michigan that received a Coronavirus-related PPP loan from the SBA of $1,658,033.00 in January, 2021.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:The Huntington National Bank
Indian Trails Inc in Owosso, MI received a Paycheck Protection Loan of $1.66M through The Huntington National Bank, which was approved in January, 2021.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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, Indian Trails Inc's 2019 payroll expenses are estimated to be at least $7.96M.
Based on their reported 175 jobs retained, this equals an estimated average yearly compensation of $45,477 per employee1
Reported PPP Proceed Usage:
On the PPP application, Indian Trails Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,658,032
- Utilities: $1
Business Information - Indian Trails Inc in Owosso, MI
109 E Comstock St
Owosso, MI 48867
Interurban and Rural Bus Transportation
NAICS code 485210
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 567 businesses in the "Interurban and Rural Bus Transportation" industry received a total of $91.43M 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 20 employees, 89% lower than Indian Trails Inc's reported 175 employees, and received an average PPP loan of $161,250, 90% lower than this company's loan of $1.66M.
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Footnotes & Information
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