PPP Loan Data — J. A. Lavoie Equipment Sales, In, Ashland, VA
J. A. Lavoie Equipment Sales, In is a corporation located at 12247 Washington Hwy in Ashland, Virginia that received a Coronavirus-related PPP loan from the SBA of $25,170.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:South State Bank, National Association
J. A. Lavoie Equipment Sales, In in Ashland, VA received a Paycheck Protection Loan of $25,170 through South State Bank, National Association, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in February, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.Read More
Understanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.Read More
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, J. A. Lavoie Equipment Sales, In's 2019 payroll expenses are estimated to be at least $120,816.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,204 per employee1
Reported PPP Proceed Usage:
On the PPP application, J. A. Lavoie Equipment Sales, In reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,170
Business Information - J. A. Lavoie Equipment Sales, In in Ashland, VA
12247 Washington Hwy
Ashland, VA 23005
Outdoor Power Equipment Stores
NAICS code 444210
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 2,273 businesses in the "Outdoor Power Equipment Stores" industry received a total of $202.53M 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 10 employees, 150% higher than J. A. Lavoie Equipment Sales, In's reported 4 employees, and received an average PPP loan of $89,101, 254% higher than this company's loan of $25,170.
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Footnotes & Information
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