PPP Loan Data — Oconee Diesel Center, Inc, Statham, GA
Oconee Diesel Center, Inc
Location: Statham, GATweet This • Search All PPP Data
Oconee Diesel Center, Inc is a corporation located at 1922 Statham Dr in Statham, Georgia that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
Oconee Diesel Center, Inc in Statham, GA received a Paycheck Protection Loan of $25,000 through Bank of America, 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, Oconee Diesel Center, Inc's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Oconee Diesel Center, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Oconee Diesel Center, Inc in Statham, GA
1922 Statham Dr
Statham, GA 30666
Other Automotive Mechanical and Electrical Repair and Maintenance
NAICS code 811118
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 22,608 businesses in the "Other Automotive Mechanical and Electrical Repair and Maintenance" industry received a total of $645.02M 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 3 employees, the same amount reported by Oconee Diesel Center, Inc and received an average PPP loan of $28,531, 14% higher than this company's loan of $25,000.
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Footnotes & Information
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