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PPP Loan Data — Joseph Sarpong, La Vergne, TN

SBA PPP loan data, payroll data, and salaries for Joseph Sarpong
TN

Joseph Sarpong

Entity: Sole Proprietorship

Industry: General Freight Trucking, Long-Distance, Truckload

Location: La Vergne, TN

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Joseph Sarpong is a sole proprietorship located in La Vergne, Tennessee that received a Coronavirus-related PPP loan from the SBA of $20,833.00 in April, 2021.

$ PPP Loan Information
Loan #5394558802

Loan Size:

$20,833

Jobs Retained:

1

Loan Approved:

2021-04-17

Loan Status:

Ongoing Loan

Lender:

Coffee County Bank

Joseph Sarpong in La Vergne, TN received a Paycheck Protection Loan of $20,833 through Coffee County Bank, which was approved in April, 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.


PPP Calculation Note: The total PPP loan an eligible business or individual can receive is based on 2.5 times their average monthly 2019 payroll expenses, capped at $100,000 annually per employee.

Reported PPP Proceed Usage:

On the PPP application, Joseph Sarpong reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $20,832

Business Information - Joseph Sarpong in La Vergne, TN

Joseph Sarpong
La Vergne, TN
* Full address is redacted to protect the privacy of individuals.

Business Industry:
General Freight Trucking, Long-Distance, Truckload
NAICS code 484121

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: N

Rural / Urban: Urban

Rutherford County, TN — SBA Office 0474 — Congressional District: TN-04

Similar Companies near La Vergne

In the La Vergne area, 47 businesses in the "General Freight Trucking, Long-Distance, Truckload" industry received a PPP loan. These local businesses reported an average of 11 employees (compared to this company's 1) and received an average PPP loan of $140,604 (compared to this company's $20,833).

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, 200% higher than Joseph Sarpong's reported 1 employees, and received an average PPP loan of $39,939, 92% higher than this company's loan of $20,833.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

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Footnotes & Information

1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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Source: www.federalpay.org/paycheck-protection-program/joseph-sarpong-la-vergne-tn