PPP Loan Data — Mccoy Transportation Group, Cordova, TN
Mccoy Transportation Group is a limited liability company (LLC) located at 469 Herring Lane in Cordova, Tennessee that received a Coronavirus-related PPP loan from the SBA of $22,026.00 in May, 2020.
$ PPP Loan Information
Jobs Retained:0 Unreported
Lender:WELLS FARGO BANK, NATIONAL ASSOCIATION
Mccoy Transportation Group received a Paycheck Protection Loan of $22,026 through WELLS FARGO BANK, NATIONAL ASSOCIATION, which was approved in May, 2020.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 0.
Based on standard PPP eligibility rules, Mccoy Transportation Group's total 2019 payroll expenses were approximately $105,725 in order to qualify for the PPP loan amount received.
Unlike most businesses, Mccoy Transportation Group's PPP data does not report the number of jobs retained by their receipt of the Paycheck Protection Loan (some banks did not release this infomation from their loan applications). Without this data, per-employee payrolls for this company cannot be estimated.
Business Information - Mccoy Transportation Group in Cordova, TN
469 Herring Lane
Cordova, TN 38018
Freight Transportation Arrangement (NAICS code 488510)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: TN-08
Similar Companies near Cordova
In the Cordova area, 8 businesses in the "Freight Transportation Arrangement" industry received a PPP loan. These local businesses reported an average of 25 employees (compared to this company's 0) and received an average PPP loan of $409,958 (compared to this company's $22,026).
Similar Nearby Businesses Who Received PPP Funding:
Freightline Carrier Systems USA, Inc
W.S. Thomas Trucking, Inc.
Garland A Watkins
Curtis Marks DBA None
V. Alexander & Co., Inc.
Corporate Aviation Service, Inc
Tucker Transportation Agency Inc.
Industry PPP Comparison Statistics
Nationwide, 10,632 businesses in the "Freight Transportation Arrangement" industry received a total of $1,273,457,640.00 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 10 employees, and received an average PPP loan of $119,776, 444% higher than this company's loan of $22,026.
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.
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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