PPP Loan Data — Monel & Sons Trucking, Inc, Salisbury, MD
Monel & Sons Trucking, Inc is a corporation located at 27758 Crittenden Court in Salisbury, Maryland that received a Coronavirus-related PPP loan from the SBA of $25,015.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Cross River Bank
Monel & Sons Trucking, Inc in Salisbury, MD received a Paycheck Protection Loan of $25,015 through Cross River Bank, which was approved in May, 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, Monel & Sons Trucking, Inc's 2019 payroll expenses are estimated to be at least $120,072.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,018 per employee1
Reported PPP Proceed Usage:
On the PPP application, Monel & Sons Trucking, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,015
Business Information - Monel & Sons Trucking, Inc in Salisbury, MD
27758 Crittenden Court
Salisbury, MD 21801
All Other Personal Services
NAICS code 812990
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Salisbury
In the Salisbury area, 13 businesses in the "All Other Personal Services" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 4) and received an average PPP loan of $27,280 (compared to this company's $25,015).
Similar Nearby Businesses Who Received PPP Funding:
S.r.pete & Sons Inc
All About Tan Boutique LLC
Taylor Marie Pierson
Industry PPP Comparison Statistics
Nationwide, 237,729 businesses in the "All Other Personal Services" industry received a total of $5.63B in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 3 employees, 25% lower than Monel & Sons Trucking, Inc's reported 4 employees, and received an average PPP loan of $23,676, 5% lower than this company's loan of $25,015.
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Footnotes & Information
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