PPP Loan Data — Industrial Conveyor Belt Systems LLC, Savannah, GA
Industrial Conveyor Belt Systems LLC is a limited liability company (LLC) located at 4524 Ogeechee Rd in Savannah, Georgia that received a Coronavirus-related PPP loan from the SBA of $1,961,297.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Truist Bank d/b/a Branch Banking & Trust Co
Industrial Conveyor Belt Systems LLC in Savannah, GA received a Paycheck Protection Loan of $1.96M through Truist Bank d/b/a Branch Banking & Trust Co, 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, Industrial Conveyor Belt Systems LLC's 2019 payroll expenses are estimated to be at least $9.41M.
Based on their reported 130 jobs retained, this equals an estimated average yearly compensation of $72,417 per employee1
Reported PPP Proceed Usage:
On the PPP application, Industrial Conveyor Belt Systems LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,961,297
Business Information - Industrial Conveyor Belt Systems LLC in Savannah, GA
4524 Ogeechee Rd
Savannah, GA 31405
Conveyor and Conveying Equipment Manufacturing
NAICS code 333922
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Savannah
In the Savannah area, 2 businesses in the "Conveyor and Conveying Equipment Manufacturing" industry received a PPP loan. These local businesses reported an average of 75 employees (compared to this company's 130) and received an average PPP loan of $1,030,526 (compared to this company's $1.96M).
Similar Nearby Businesses Who Received PPP Funding:
Conken Systems Inc
Industry PPP Comparison Statistics
Nationwide, 648 businesses in the "Conveyor and Conveying Equipment Manufacturing" industry received a total of $279.38M 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 31 employees, 76% lower than Industrial Conveyor Belt Systems LLC's reported 130 employees, and received an average PPP loan of $431,139, 78% lower than this company's loan of $1.96M.
FederalPay's PPP Information Policy
Footnotes & Information
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