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PPP Loan Data — Morrow Express LLC,
Idaho Falls, ID
Morrow Express LLC
Entity: Limited Liability Company (LLC)
Industry: General Freight Trucking, Long-Distance, Truckload
Location: Idaho Falls, ID
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Morrow Express LLC is a limited liability company (LLC) located at 4182 N 45th E in Idaho Falls, Idaho that received a Coronavirus-related PPP loan from the SBA of $93,900.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least twelve people during the applicable loan loan period.
$
PPP Loan Information
Loan #8058277102
Loan Size:
Jobs Retained:
12Loan Approved:
2020-04-15Loan Status:
Paid in Full or ForgivenLender:
Zions Bank, A Division ofMorrow Express LLC in Idaho Falls, ID received a Paycheck Protection Loan of $93,900 through Zions Bank, A Division of, 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 January, 2021.
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 MoreUnderstanding 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 MoreBased 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, Morrow Express LLC's 2019 payroll expenses are estimated to be at least $450,720.
Based on their reported 12 jobs retained, this equals an estimated average yearly compensation of $37,560 per employee1
Reported PPP Proceed Usage:
On the PPP application, Morrow Express LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $93,900
Business Information - Morrow Express LLC in Idaho Falls, ID
4182 N 45th E
Idaho Falls, ID 83401
Business Industry:
General Freight Trucking, Long-Distance, Truckload
NAICS code 484121
Business Owner Demographics
Race: White
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Idaho Falls
In the Idaho Falls area, 14 businesses in the "General Freight Trucking, Long-Distance, Truckload" industry received a PPP loan. These local businesses reported an average of 27 employees (compared to this company's 12) and received an average PPP loan of $347,591 (compared to this company's $93,900).
Similar Nearby Businesses Who Received PPP Funding:
LIL Dragon Industries LLC
Idaho Falls, ID
Real Enterprises LLC
Idaho Falls, ID
Alex Kendall
Idaho Falls, ID
Doug Andrus Distributing LLC
Idaho Falls, ID
Purple Sage Trucking LLC
Idaho Falls, ID
M&E Transport LLC
Idaho Falls, ID
Golden Crest, Inc
Idaho Falls, ID
Torres & Sons, LLC
Idaho Falls, ID
Industry PPP Comparison Statistics
Nationwide, 67,342 businesses in the "General Freight Trucking, Long-Distance, Truckload" industry received a total of $3.7B 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 5 employees, 58% lower than Morrow Express LLC's reported 12 employees, and received an average PPP loan of $55,017, 41% lower than this company's loan of $93,900.
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.
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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