PPP Loan Data — Spann Agency LLC, Summerville, SC
Spann Agency LLC is a subchapter s corporation located at 301, Frys Way , in Summerville, South Carolina that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in August, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Itria Ventures LLC
Spann Agency LLC in Summerville, SC received a Paycheck Protection Loan of $25,000 through Itria Ventures LLC, which was approved in August, 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, Spann Agency LLC's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Spann Agency LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Spann Agency LLC in Summerville, SC
301, Frys Way ,
Summerville, SC 29483
Freight Transportation Arrangement
NAICS code 488510
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Summerville
In the Summerville area, 7 businesses in the "Freight Transportation Arrangement" industry received a PPP loan. These local businesses reported an average of 1 employees (compared to this company's 2) and received an average PPP loan of $11,175 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Universal Logistix LLC
Kenneth Sanders I
Industry PPP Comparison Statistics
Nationwide, 26,171 businesses in the "Freight Transportation Arrangement" industry received a total of $1.88B 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 7 employees, 250% higher than Spann Agency LLC's reported 2 employees, and received an average PPP loan of $72,001, 188% higher than this company's loan of $25,000.
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Footnotes & Information
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