PPP Loan Data — National Salvage & Service Corporation, Bloomington, IN
National Salvage & Service Corporation
Location: Bloomington, INTweet This • Search All PPP Data
National Salvage & Service Corporation is a corporation located at 6755 S. Old State Road 37 in Bloomington, Indiana that received a Coronavirus-related PPP loan from the SBA of $4,125,960.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Wells Fargo Bank, National Association
National Salvage & Service Corporation in Bloomington, IN received a Paycheck Protection Loan of $4.13M through Wells Fargo Bank, National Association, 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, National Salvage & Service Corporation's 2019 payroll expenses are estimated to be at least $19.8M.
Based on their reported 253 jobs retained, this equals an estimated average yearly compensation of $78,279 per employee1
Reported PPP Proceed Usage:
On the PPP application, National Salvage & Service Corporation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $4,125,960
Business Information - National Salvage & Service Corporation in Bloomington, IN
6755 S. Old State Road 37
Bloomington, IN 47401
Transportation Equipment and Supplies (except Motor Vehicle) Merchant Wholesalers
NAICS code 423860
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 5,498 businesses in the "Transportation Equipment and Supplies (except Motor Vehicle) Merchant Wholesalers" industry received a total of $429.4M 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, 97% lower than National Salvage & Service Corporation's reported 253 employees, and received an average PPP loan of $78,100, 98% lower than this company's loan of $4.13M.
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Footnotes & Information
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