PPP Loan Data — Joseph Reese, Westerville, OH
Entity: Sole Proprietorship
Location: Westerville, OHTweet This • Search All PPP Data
Joseph Reese is a sole proprietorship located in Westerville, Ohio that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in January, 2021.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Fifth Third Bank
Joseph Reese in Westerville, OH received a Paycheck Protection Loan of $25,000 through Fifth Third Bank, which was approved in January, 2021.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 1. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
Reported PPP Proceed Usage:
On the PPP application, Joseph Reese reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,996
- Utilities: $1
Business Information - Joseph Reese in Westerville, OH
* Full address is redacted to protect the privacy of individuals.
Specialized Freight (except Used Goods) Trucking, Long-Distance
NAICS code 484230
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Westerville
In the Westerville area, 10 businesses in the "Specialized Freight (except Used Goods) Trucking, Long-Distance" industry received a PPP loan. These local businesses reported an average of 1 employees (compared to this company's 1) and received an average PPP loan of $21,944 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
ANB Transport LLC
Nadica Sims Mcdaniel
Hoyo Trucking LLC
Joseph Reese DBA J.a. Reese Trucking
Industry PPP Comparison Statistics
Nationwide, 35,019 businesses in the "Specialized Freight (except Used Goods) Trucking, Long-Distance" industry received a total of $1.38B 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, 200% higher than Joseph Reese's reported 1 employees, and received an average PPP loan of $39,377, 58% higher than this company's loan of $25,000.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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