PPP Loan Data — Randy's Towing And Recovery, LLC, Athens, AL
Randy's Towing And Recovery, LLC is a limited liability company (LLC) located at 102 W Sanderfer Rd in Athens, Alabama that received a Coronavirus-related PPP loan from the SBA of $25,366.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:North Alabama Bank
Randy's Towing And Recovery, LLC in Athens, AL received a Paycheck Protection Loan of $25,366 through North Alabama 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, Randy's Towing And Recovery, LLC's 2019 payroll expenses are estimated to be at least $121,757.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,351 per employee1
Reported PPP Proceed Usage:
On the PPP application, Randy's Towing And Recovery, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,366
Business Information - Randy's Towing And Recovery, LLC in Athens, AL
102 W Sanderfer Rd
Athens, AL 35611
Motor Vehicle Towing
NAICS code 488410
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, 17,547 businesses in the "Motor Vehicle Towing" industry received a total of $912.17M 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 6 employees, 20% higher than Randy's Towing And Recovery, LLC's reported 5 employees, and received an average PPP loan of $51,984, 105% higher than this company's loan of $25,366.
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Footnotes & Information
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