PPP Loan Data — Mcmillan Excavating, LLC, Lytle, TX
Mcmillan Excavating, LLC
Entity: Limited Liability Company (LLC)
Location: Lytle, TXTweet This • Search All PPP Data
Mcmillan Excavating, LLC is a limited liability company (LLC) located at 518 County Road 6850 in Lytle, Texas that received a Coronavirus-related PPP loan from the SBA of $46,700.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Community National Bank
Mcmillan Excavating, LLC in Lytle, TX received a Paycheck Protection Loan of $46,700 through Community National Bank, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in February, 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, Mcmillan Excavating, LLC's 2019 payroll expenses are estimated to be at least $224,160.
Based on their reported 8 jobs retained, this equals an estimated average yearly compensation of $28,020 per employee1
Reported PPP Proceed Usage:
On the PPP application, Mcmillan Excavating, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,700
Business Information - Mcmillan Excavating, LLC in Lytle, TX
518 County Road 6850
Lytle, TX 78052
Plumbing, Heating, and Air-Conditioning Contractors
NAICS code 238220
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 105,811 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a total of $13.07B 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 10 employees, 25% higher than Mcmillan Excavating, LLC's reported 8 employees, and received an average PPP loan of $123,520, 164% higher than this company's loan of $46,700.
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Footnotes & Information
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