PPP Loan Data — Lyle Machinery Co., Richland, MS
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
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.
Business Information - Lyle Machinery Co. in Richland, MS
650 Highway 49
Richland, MS 39218
Other Building Material Dealers (NAICS code 444190)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional 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
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.
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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