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PPP Loan Data — Scott Equipment Company LLC,
Monroe, LA
Scott Equipment Company LLC
Entity: Limited Liability Company (LLC)
Industry: Industrial Machinery and Equipment Merchant Wholesalers
Location: Monroe, LA
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Scott Equipment Company LLC is a limited liability company (LLC) located at 1000 Martin Luther King Jr Dr in Monroe, Louisiana that received a Coronavirus-related PPP loan from the SBA of $71,082.00 in March, 2021.
$
PPP Loan Information
Loan #9419758602
Loan Size:
Jobs Retained:
215Loan Approved:
2021-03-26Loan Status:
Paid in Full or ForgivenLender:
Amur Equipment Finance, Inc.Scott Equipment Company LLC in Monroe, LA received a Paycheck Protection Loan of $71,082 through Amur Equipment Finance, Inc., which was approved in March, 2021.
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 September, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Scott Equipment Company LLC's 2019 payroll expenses are estimated to be at least $341,194.
Based on their reported 215 jobs retained, this equals an estimated average yearly compensation of $1,587 per employee1
Reported PPP Proceed Usage:
On the PPP application, Scott Equipment Company LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $71,076
- Utilities: $1
Business Information - Scott Equipment Company LLC in Monroe, LA
1000 Martin Luther King Jr Dr
Monroe, LA 71203
Business Industry:
Industrial Machinery and Equipment Merchant Wholesalers
NAICS code 423830
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: Y
Rural / Urban: Urban
Businesses Using Same Address:
There is one other business that received a PPP loan registered to the same address as Scott Equipment Company LLC.
Scott Truck LLC
Other Commercial and Industrial Machinery and Equipment Rental and Leasing
Similar Companies near Monroe
In the Monroe area, 4 businesses in the "Industrial Machinery and Equipment Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 64 employees (compared to this company's 215) and received an average PPP loan of $137,657 (compared to this company's $71,082).
Similar Nearby Businesses Who Received PPP Funding:
Sentry Safe LLC
Monroe, LA
Perry And Sons, LLC
Monroe, LA
Pender Industrial, LLC
Monroe, LA
Industry PPP Comparison Statistics
Nationwide, 11,033 businesses in the "Industrial Machinery and Equipment Merchant Wholesalers" industry received a total of $2.24B 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 15 employees, 93% lower than Scott Equipment Company LLC's reported 215 employees, and received an average PPP loan of $203,255, 186% higher than this company's loan of $71,082.
Scott Equipment Company LLC
Entity: Limited Liability Company (LLC)
Industry: All Other Miscellaneous Store Retailers (except Tobacco Stores)
Location: Monroe, LA
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Scott Equipment Company LLC is a limited liability company (LLC) located at 1000 Martin Luther King Jr Dr in Monroe, Louisiana that received a Coronavirus-related PPP loan from the SBA of $6,199,900.00 in April, 2020.
$
PPP Loan Information
Loan #4664477105
Loan Size:
Jobs Retained:
330Loan Approved:
2020-04-13Loan Status:
Paid in Full or ForgivenLender:
Hancock Whitney BankScott Equipment Company LLC in Monroe, LA received a Paycheck Protection Loan of $6.2M through Hancock Whitney 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 July, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Scott Equipment Company LLC's 2019 payroll expenses are estimated to be at least $29.76M.
Based on their reported 330 jobs retained, this equals an estimated average yearly compensation of $90,180 per employee1
Reported PPP Proceed Usage:
On the PPP application, Scott Equipment Company LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $6,199,900
Business Information - Scott Equipment Company LLC in Monroe, LA
1000 Martin Luther King Jr Dr
Monroe, LA 71203
Business Industry:
All Other Miscellaneous Store Retailers (except Tobacco Stores)
NAICS code 453998
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: Y
Rural / Urban: Urban
Businesses Using Same Address:
There is one other business that received a PPP loan registered to the same address as Scott Equipment Company LLC.
Scott Truck LLC
Other Commercial and Industrial Machinery and Equipment Rental and Leasing
Similar Companies near Monroe
In the Monroe area, 57 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 330) and received an average PPP loan of $124,994 (compared to this company's $6.2M).
Similar Nearby Businesses Who Received PPP Funding:
Carolyn Parker
Monroe, LA
Jetarion Bess
Monroe, LA
Ayani Hamilton
Monroe, LA
Dorothy L. Key
Monroe, LA
Tonika Davis
Monroe, LA
Deondrenique Raymond
Monroe, LA
Jamartavia Jackson
Monroe, LA
Charles Ellis
Monroe, LA
Sassy Chique Kids Boutique LLC
Monroe, LA
Industry PPP Comparison Statistics
Nationwide, 146,307 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a total of $5.11B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 4 employees, 99% lower than Scott Equipment Company LLC's reported 330 employees, and received an average PPP loan of $34,921, 99% lower than this company's loan of $6.2M.
FederalPay's PPP Information Policy
Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.
All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.
2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.
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