PPP Loan Data — STI Equipment Leasing LTD, Laredo, TX
STI Equipment Leasing LTD
Location: Laredo, TXTweet This • Search All PPP Data
STI Equipment Leasing LTD is a partnership located at 13519 Mercury Dr in Laredo, Texas that received a Coronavirus-related PPP loan from the SBA of $25,400.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least five people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Vantage Bank Texas
STI Equipment Leasing LTD in Laredo, TX received a Paycheck Protection Loan of $25,400 through Vantage Bank Texas, which was approved in April, 2020.
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, STI Equipment Leasing LTD's 2019 payroll expenses are estimated to be at least $121,920.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,384 per employee1
Reported PPP Proceed Usage:
On the PPP application, STI Equipment Leasing LTD reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $18,400
- Rent: $7,000
Business Information - STI Equipment Leasing LTD in Laredo, TX
13519 Mercury Dr
Laredo, TX 78045
General Freight Trucking, Long-Distance, Truckload
NAICS code 484121
Business Owner Demographics
Ethnicity: Hispanic or Latino
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Laredo
In the Laredo area, 293 businesses in the "General Freight Trucking, Long-Distance, Truckload" industry received a PPP loan. These local businesses reported an average of 10 employees (compared to this company's 5) and received an average PPP loan of $80,719 (compared to this company's $25,400).
Similar Nearby Businesses Who Received PPP Funding:
Patriot Cargo Solutions LLC
Rio Bravo, TX
Dispatch Border Services LLC
Salba Logistics LLC
TG Transport Inc
Interpath Carriers LLC
Ramsan Logistics LLC
Industry PPP Comparison Statistics
Nationwide, 116,089 businesses in the "General Freight Trucking, Long-Distance, Truckload" industry received a total of $4.64B 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 3 employees, 40% lower than STI Equipment Leasing LTD's reported 5 employees, and received an average PPP loan of $39,939, 57% higher than this company's loan of $25,400.
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