PPP Loan Data — Miller Farm Repair, Inc, Beecher City, IL
Miller Farm Repair, Inc
Location: Beecher City, ILTweet This • Search All PPP Data
Miller Farm Repair, Inc is a corporation located at 1813 E 100 North Rd in Beecher City, Illinois that received a Coronavirus-related PPP loan from the SBA of $25,100.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least five people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Peoples Bank & Trust
Miller Farm Repair, Inc in Beecher City, IL received a Paycheck Protection Loan of $25,100 through Peoples Bank & Trust, which was approved in April, 2020.
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, Miller Farm Repair, Inc's 2019 payroll expenses are estimated to be at least $120,480.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,096 per employee1
Reported PPP Proceed Usage:
On the PPP application, Miller Farm Repair, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,095
- Utilities: $1
- Mortgage Interest: $1
- Rent: $1
- Health Care: $1
- Debt Interest: $1
Business Information - Miller Farm Repair, Inc in Beecher City, IL
1813 E 100 North Rd
Beecher City, IL 62414
All Other Professional, Scientific, and Technical Services
NAICS code 541990
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 129,763 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a total of $7.41B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 5 employees, the same amount reported by Miller Farm Repair, Inc and received an average PPP loan of $57,091, 127% higher than this company's loan of $25,100.
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