PPP Loan Data — Speedway Termite And Pest Control, Inc, Indianapolis, IN
Speedway Termite And Pest Control, Inc is a corporation located at 5002 West 16th Street in Indianapolis, Indiana that received a Coronavirus-related PPP loan from the SBA of $25,332.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:The National Bank of Indianapolis
Speedway Termite And Pest Control, Inc in Indianapolis, IN received a Paycheck Protection Loan of $25,332 through The National Bank of Indianapolis, 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, Speedway Termite And Pest Control, Inc's 2019 payroll expenses are estimated to be at least $121,594.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,531 per employee1
Reported PPP Proceed Usage:
On the PPP application, Speedway Termite And Pest Control, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,332
Business Information - Speedway Termite And Pest Control, Inc in Indianapolis, IN
5002 West 16th Street
Indianapolis, IN 46224
Exterminating and Pest Control Services
NAICS code 561710
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 11,446 businesses in the "Exterminating and Pest Control Services" industry received a total of $713.27M 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 8 employees, 167% higher than Speedway Termite And Pest Control, Inc's reported 3 employees, and received an average PPP loan of $62,316, 146% higher than this company's loan of $25,332.
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Footnotes & Information
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