PPP Loan Data — Pittman Pump Service & Well Drilling, Pearson, GA
Pittman Pump Service & Well Drilling
Location: Pearson, GATweet This • Search All PPP Data
Pittman Pump Service & Well Drilling is a corporation located at 924 Austin Ave in Pearson, Georgia that received a Coronavirus-related PPP loan from the SBA of $47,138.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least six people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Douglas National Bank
Pittman Pump Service & Well Drilling in Pearson, GA received a Paycheck Protection Loan of $47,138 through Douglas National 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 February, 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, Pittman Pump Service & Well Drilling's 2019 payroll expenses are estimated to be at least $226,262.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $37,710 per employee1
Reported PPP Proceed Usage:
On the PPP application, Pittman Pump Service & Well Drilling reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $47,138
Business Information - Pittman Pump Service & Well Drilling in Pearson, GA
924 Austin Ave
Pearson, GA 31642
Water and Sewer Line and Related Structures Construction
NAICS code 237110
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Similar Companies near Pearson
In the Pearson area, 6 businesses in the "Water and Sewer Line and Related Structures Construction" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 6) and received an average PPP loan of $25,217 (compared to this company's $47,138).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 8,904 businesses in the "Water and Sewer Line and Related Structures Construction" industry received a total of $1.93B 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 17 employees, 183% higher than Pittman Pump Service & Well Drilling's reported 6 employees, and received an average PPP loan of $216,804, 360% higher than this company's loan of $47,138.
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