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PPP Loan Data — Mid-South Boring & Piping LLC, Collierville, TN

ALERT: There are 2 PPP loans for a total of $953,045 in our database for businesses with the name "Mid-South Boring & Piping LLC" in Collierville, TN. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Mid-South Boring & Piping LLC
TN

Mid-South Boring & Piping LLC

Entity: Limited Liability Company (LLC)

Industry: All Other Specialty Trade Contractors

Location: Collierville, TN

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Mid-South Boring & Piping LLC is a limited liability company (LLC) located at 1132 Collierville Arlington Rd in Collierville, Tennessee that received a Coronavirus-related PPP loan from the SBA of $517,093.00 in January, 2021.

$ PPP Loan Information
Loan #1943248308

Loan Size:

$517,093

Jobs Retained:

30

Loan Approved:

2021-01-20

Loan Status:

Ongoing Loan

Lender:

Bank3

Mid-South Boring & Piping LLC in Collierville, TN received a Paycheck Protection Loan of $517,093 through Bank3, which was approved in January, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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 Boring & Piping LLC's 2019 payroll expenses are estimated to be at least $2.48M.

Based on their reported 30 jobs retained, this equals an estimated average yearly compensation of $82,735 per employee1

Reported PPP Proceed Usage:

On the PPP application, Mid-South Boring & Piping LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $517,091
  • Utilities: $1

Business Information - Mid-South Boring & Piping LLC in Collierville, TN

Mid-South Boring & Piping LLC
1132 Collierville Arlington Rd
Collierville, TN 38017

Business Industry:
All Other Specialty Trade Contractors
NAICS code 238990

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Shelby County, TN — SBA Office 0474 — Congressional District: TN-08

Similar Companies near Collierville

In the Collierville area, 38 businesses in the "All Other Specialty Trade Contractors" industry received a PPP loan. These local businesses reported an average of 12 employees (compared to this company's 30) and received an average PPP loan of $144,690 (compared to this company's $517,093).

Industry PPP Comparison Statistics

Nationwide, 93,634 businesses in the "All Other Specialty Trade Contractors" industry received a total of $8.04B 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 8 employees, 73% lower than Mid-South Boring & Piping LLC's reported 30 employees, and received an average PPP loan of $85,903, 83% lower than this company's loan of $517,093.

SBA PPP loan data, payroll data, and salaries for Mid-South Boring & Piping, LLC
TN

Mid-South Boring & Piping, LLC

Entity: Limited Liability Company (LLC)

Industry: Plumbing, Heating, and Air-Conditioning Contractors

Location: Collierville, TN

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Mid-South Boring & Piping, LLC is a limited liability company (LLC) located at Collierville Arlington Rd in Collierville, Tennessee that received a Coronavirus-related PPP loan from the SBA of $435,952.00 in April, 2020.

$ PPP Loan Information
Loan #1918557102

Loan Size:

$435,952

Jobs Retained:

30

Loan Approved:

2020-04-10

Loan Status:

Ongoing Loan

Lender:

Bank3

Mid-South Boring & Piping, LLC in Collierville, TN received a Paycheck Protection Loan of $435,952 through Bank3, which was approved in April, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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 Boring & Piping, LLC's 2019 payroll expenses are estimated to be at least $2.09M.

Based on their reported 30 jobs retained, this equals an estimated average yearly compensation of $69,752 per employee1

Reported PPP Proceed Usage:

On the PPP application, Mid-South Boring & Piping, LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $435,952

Business Information - Mid-South Boring & Piping, LLC in Collierville, TN

Mid-South Boring & Piping, LLC
Collierville Arlington Rd
Collierville, TN 38017

Business Industry:
Plumbing, Heating, and Air-Conditioning Contractors
NAICS code 238220

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Shelby County, TN — SBA Office 0474 — Congressional District: TN-08

Similar Companies near Collierville

In the Collierville area, 42 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a PPP loan. These local businesses reported an average of 10 employees (compared to this company's 30) and received an average PPP loan of $117,345 (compared to this company's $435,952).

Industry PPP Comparison Statistics

Nationwide, 106,202 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a total of $13.08B 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, 67% lower than Mid-South Boring & Piping, LLC's reported 30 employees, and received an average PPP loan of $123,134, 72% lower than this company's loan of $435,952.

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.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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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Source: www.federalpay.org/paycheck-protection-program/mid-south-boring-piping-llc-collierville-tn