PPP Loan Data — Scott Equipment Company LLC, Monroe, LA
Scott Equipment Company LLC
Entity: Limited Liability Company (LLC)
Location: Monroe, LATweet This • Search All PPP Data
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
Lender:HANCOCK WHITNEY BANK
Scott Equipment Company LLC in Monroe, LA received a Paycheck Protection Loan of $6.2M through HANCOCK WHITNEY BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Scott Equipment Company LLC's total 2019 payroll expenses were approximately $29.76M in order to qualify for the PPP loan amount received.
Based on their reported 330 jobs retained, this equals an estimated average yearly compensation of $90,180 per employee1.
Business Information - Scott Equipment Company LLC in Monroe, LA
1000 Martin Luther King Jr Dr
Monroe, LA 71203
All Other Miscellaneous Store Retailers (except Tobacco Stores) (NAICS code 453998)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: LA-05
Similar Companies near Monroe
In the Monroe area, 6 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a PPP loan. These local businesses reported an average of 58 employees (compared to this company's 330) and received an average PPP loan of $1,047,723 (compared to this company's $6.2M).
Similar Nearby Businesses Who Received PPP Funding:
Queen Bee Enterprises
Azure Pools LLC
Curious Odds' Ends Flea Market
Dorothy L. Key
St Trading LLC
Industry PPP Comparison Statistics
Nationwide, 67,030 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a total of $3,394,491,072.00 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 6 employees, 98% lower than Scott Equipment Company LLC's reported 330 employees, and received an average PPP loan of $50,641, 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, and is published unmodified, as provided by the SBA.
Footnotes & Information
1. 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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