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PPP Loan Data — Spot Freight, Inc.,
Indianapolis, IN
Spot Freight, Inc.
Entity: Subchapter S Corporation
Industry: Freight Transportation Arrangement
Location: Indianapolis, IN
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Spot Freight, Inc. is a subchapter s corporation located at 141 S Meridian St in Indianapolis, Indiana that received a Coronavirus-related PPP loan from the SBA of $2,498,100.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
0 UnreportedLoan Approved:
2020-04-29Lender:
STOCK YARDS BANK & TRUST COMPANYSpot Freight, Inc. received a Paycheck Protection Loan of $2.5M through STOCK YARDS BANK & TRUST COMPANY, which was approved in April, 2020.
Based on standard PPP eligibility rules, Spot Freight, Inc.'s total 2019 payroll expenses were approximately $11.99M in order to qualify for the PPP loan amount received.
Unlike most businesses, Spot Freight, Inc.'s PPP data does not report the number of jobs retained by their receipt of the Paycheck Protection Loan (some banks did not release this infomation from their loan applications). Without this data, per-employee payrolls for this company cannot be estimated.
Business Information - Spot Freight, Inc. in Indianapolis, IN
141 S Meridian St
Indianapolis, IN 46225
Business Industry
Freight Transportation Arrangement (NAICS code 488510)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: IN-07Similar Companies near Indianapolis
In the Indianapolis area, 4 businesses in the "Freight Transportation Arrangement" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 0) and received an average PPP loan of $645,550 (compared to this company's $2.5M).
Similar Nearby Businesses Who Received PPP Funding:
Red Technologies, LLC
Indianapolis, IN
Kendall Dullen Jr
Indianapolis, IN
Bando Korean Restaurant
Indianapolis, IN
Industry PPP Comparison Statistics
Nationwide, 10,632 businesses in the "Freight Transportation Arrangement" industry received a total of $1,273,457,640.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 10 employees, and received an average PPP loan of $119,776, 95% lower than this company's loan of $2.5M.
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.
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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