PPP Loan Data — Mid South Agricultural Equipment, Inc, Byhalia, MS
Mid South Agricultural Equipment, Inc
Location: Byhalia, MSTweet This • Search All PPP Data
Mid South Agricultural Equipment, Inc is a corporation located at 3044 Hwy 302 in Byhalia, Mississippi that received a Coronavirus-related PPP loan from the SBA of $1,686,365.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First Horizon Bank
Mid South Agricultural Equipment, Inc in Byhalia, MS received a Paycheck Protection Loan of $1.69M through First Horizon 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, Mid South Agricultural Equipment, Inc's 2019 payroll expenses are estimated to be at least $8.09M.
Based on their reported 141 jobs retained, this equals an estimated average yearly compensation of $57,408 per employee1
Reported PPP Proceed Usage:
On the PPP application, Mid South Agricultural Equipment, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,349,092
- Utilities: $31,229
- Rent: $118,047
- Debt Interest: $187,997
Business Information - Mid South Agricultural Equipment, Inc in Byhalia, MS
3044 Hwy 302
Byhalia, MS 38611
Industrial Machinery and Equipment Merchant Wholesalers
NAICS code 423830
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, 11,076 businesses in the "Industrial Machinery and Equipment Merchant Wholesalers" industry received a total of $2.24B 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 15 employees, 89% lower than Mid South Agricultural Equipment, Inc's reported 141 employees, and received an average PPP loan of $202,534, 88% lower than this company's loan of $1.69M.
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Footnotes & Information
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