PPP Loan Data — Sutton Agri Service, Union City, TN
Sutton Agri Service is a sole proprietorship located at 5091 Claude Tucker Rd in Union City, Tennessee that received a Coronavirus-related PPP loan from the SBA of $25,124.00 in May, 2020.
The company has reported itself as a White male owned business, and employed at least nine people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:The Citizens Bank
Sutton Agri Service in Union City, TN received a Paycheck Protection Loan of $25,124 through The Citizens Bank, which was approved in May, 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, Sutton Agri Service's 2019 payroll expenses are estimated to be at least $120,595.
Based on their reported 9 jobs retained, this equals an estimated average yearly compensation of $13,399 per employee1
Reported PPP Proceed Usage:
On the PPP application, Sutton Agri Service reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,124
Business Information - Sutton Agri Service in Union City, TN
5091 Claude Tucker Rd
Union City, TN 38261
NAICS code 999990
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 85,647 businesses in the "Unclassified Establishments" industry received a total of $3.67B 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 10 employees, 11% higher than Sutton Agri Service's reported 9 employees, and received an average PPP loan of $42,878, 71% higher than this company's loan of $25,124.
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Footnotes & Information
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