PPP Loan Data — Rands Trucking Inc, Ladysmith, WI
Rands Trucking Inc
Location: Ladysmith, WITweet This • Search All PPP Data
Rands Trucking Inc is a corporation located at W8527 Gokey Rd in Ladysmith, Wisconsin that received a Coronavirus-related PPP loan from the SBA of $2,305,744.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Chippewa Valley Bank
Rands Trucking Inc in Ladysmith, WI received a Paycheck Protection Loan of $2.31M through Chippewa Valley Bank, which was approved in April, 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, Rands Trucking Inc's 2019 payroll expenses are estimated to be at least $11.07M.
Based on their reported 169 jobs retained, this equals an estimated average yearly compensation of $65,489 per employee1
Reported PPP Proceed Usage:
On the PPP application, Rands Trucking Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,305,744
Business Information - Rands Trucking Inc in Ladysmith, WI
W8527 Gokey Rd
Ladysmith, WI 54848
General Freight Trucking, Long-Distance, Truckload
NAICS code 484121
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Similar Companies near Ladysmith
In the Ladysmith area, 5 businesses in the "General Freight Trucking, Long-Distance, Truckload" industry received a PPP loan. These local businesses reported an average of 35 employees (compared to this company's 169) and received an average PPP loan of $473,604 (compared to this company's $2.31M).
Similar Nearby Businesses Who Received PPP Funding:
Iron River, WI
Santikko Trucking Inc
Iron River, WI
Rocking Tda 1 LLC
Industry PPP Comparison Statistics
Nationwide, 116,089 businesses in the "General Freight Trucking, Long-Distance, Truckload" industry received a total of $4.64B 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, 98% lower than Rands Trucking Inc's reported 169 employees, and received an average PPP loan of $39,939, 98% lower than this company's loan of $2.31M.
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Footnotes & Information
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