PPP Loan Data — Service Tech, Decherd, TN
Service Tech is a sole proprietorship located at 614 Finney Rd in Decherd, Tennessee that received a Coronavirus-related PPP loan from the SBA of $46,300.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least three people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First Vision Bank of Tennessee
Service Tech in Decherd, TN received a Paycheck Protection Loan of $46,300 through First Vision Bank of Tennessee, 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, Service Tech's 2019 payroll expenses are estimated to be at least $222,240.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $74,080 per employee1
Reported PPP Proceed Usage:
On the PPP application, Service Tech reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,300
Business Information - Service Tech in Decherd, TN
614 Finney Rd
Decherd, TN 37324
Water Supply and Irrigation Systems
NAICS code 221310
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Decherd
In the Decherd area, 2 businesses in the "Water Supply and Irrigation Systems" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 3) and received an average PPP loan of $25,300 (compared to this company's $46,300).
Similar Nearby Businesses Who Received PPP Funding:
Southern Rain Irrigation
Industry PPP Comparison Statistics
Nationwide, 4,645 businesses in the "Water Supply and Irrigation Systems" industry received a total of $428.61M 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 9 employees, 200% higher than Service Tech's reported 3 employees, and received an average PPP loan of $92,273, 99% higher than this company's loan of $46,300.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!