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PPP Loan Data — Lyle Machinery Co., Richland, MS

SBA PPP loan data, payroll data, and salaries for Lyle Machinery Co.
MS

Lyle Machinery Co.

Entity: Subchapter S Corporation

Industry: Other Building Material Dealers

Location: Richland, MS

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Lyle Machinery Co. is a subchapter s corporation located at 650 Highway 49 in Richland, Mississippi that received a Coronavirus-related PPP loan from the SBA of $3,162,800.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.16M

Jobs Retained:

207

Loan Approved:

2020-04-07

Lender:

TRUSTMARK NATIONAL BANK

Lyle Machinery Co. in Richland, MS received a Paycheck Protection Loan of $3.16M through TRUSTMARK NATIONAL BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Lyle Machinery Co.'s total 2019 payroll expenses were approximately $15.18M in order to qualify for the PPP loan amount received.

Based on their reported 207 jobs retained, this equals an estimated average yearly compensation of $73,340 per employee1.

Because the loan received by Lyle Machinery Co. is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Lyle Machinery Co. in Richland, MS

Lyle Machinery Co.
650 Highway 49
Richland, MS 39218

Business Industry

Other Building Material Dealers (NAICS code 444190)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MS-03

Similar Companies near Richland

In the Richland area, 2 businesses in the "Other Building Material Dealers" industry received a PPP loan. These local businesses reported an average of 108 employees (compared to this company's 207) and received an average PPP loan of $1,641,050 (compared to this company's $3.16M).

Similar Nearby Businesses Who Received PPP Funding:

Miller Lumber Company, LLC
Richland, MS

$119,300 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 7,624 businesses in the "Other Building Material Dealers" industry received a total of $1,126,038,672.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 12 employees, 94% lower than Lyle Machinery Co.'s reported 207 employees, and received an average PPP loan of $147,697, 95% lower than this company's loan of $3.16M.

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, and is published unmodified, as provided by the SBA.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. 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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/lyle-machinery-co-richland-ms