PPP Loan Data — Mississippi Express Wash LLC, Tupelo, MS
Mississippi Express Wash LLC is a limited liability company (LLC) located at 3587 North Gloster St in Tupelo, Mississippi that received a Coronavirus-related PPP loan from the SBA of $46,900.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Mississippi Express Wash LLC in Tupelo, MS received a Paycheck Protection Loan of $46,900 through Renasant 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 May, 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, Mississippi Express Wash LLC's 2019 payroll expenses are estimated to be at least $225,120.
Based on their reported 12 jobs retained, this equals an estimated average yearly compensation of $18,760 per employee1
Reported PPP Proceed Usage:
On the PPP application, Mississippi Express Wash LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,900
Business Information - Mississippi Express Wash LLC in Tupelo, MS
3587 North Gloster St
Tupelo, MS 38804
NAICS code 811192
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Tupelo
In the Tupelo area, 6 businesses in the "Car Washes" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 12) and received an average PPP loan of $20,536 (compared to this company's $46,900).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 26,021 businesses in the "Car Washes" industry received a total of $986.15M 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 7 employees, 42% lower than Mississippi Express Wash LLC's reported 12 employees, and received an average PPP loan of $37,898, 19% lower than this company's loan of $46,900.
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Footnotes & Information
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