PPP Loan Data — KIP Powell, Terril, IA
KIP Powell is a sole proprietorship located at 3212 240th St in Terril, Iowa 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:The State Bank
KIP Powell in Terril, IA received a Paycheck Protection Loan of $25,000 through The State Bank, which was approved in January, 2021.
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, KIP Powell's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, KIP Powell reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - KIP Powell in Terril, IA
3212 240th St
Terril, IA 51364
NAICS code 112112
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Terril
In the Terril area, 3 businesses in the "Cattle Feedlots" industry received a PPP loan. These local businesses reported an average of 1 employees (compared to this company's 2) and received an average PPP loan of $22,222 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 8,650 businesses in the "Cattle Feedlots" industry received a total of $269.25M 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, 50% higher than KIP Powell's reported 2 employees, and received an average PPP loan of $31,127, 25% higher than this company's loan of $25,000.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!