PPP Loan Data — Terral Riverservice Inc, Lake Providence, LA
Terral Riverservice Inc is a subchapter s corporation located at 10100 Highway 65 S in Lake Providence, Louisiana that received a Coronavirus-related PPP loan from the SBA of $4,871,300.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Terral Riverservice Inc in Lake Providence, LA received a Paycheck Protection Loan of $4.87M through Origin Bank, 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, Terral Riverservice Inc's 2019 payroll expenses are estimated to be at least $23.38M.
Based on their reported 406 jobs retained, this equals an estimated average yearly compensation of $57,592 per employee1
Reported PPP Proceed Usage:
On the PPP application, Terral Riverservice Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $4,621,300
- Utilities: $50,000
- Rent: $100,000
- Debt Interest: $100,000
Business Information - Terral Riverservice Inc in Lake Providence, LA
10100 Highway 65 S
Lake Providence, LA 71254
Marine Cargo Handling
NAICS code 488320
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 377 businesses in the "Marine Cargo Handling" industry received a total of $119.96M 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 28 employees, 93% lower than Terral Riverservice Inc's reported 406 employees, and received an average PPP loan of $318,199, 93% lower than this company's loan of $4.87M.
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Footnotes & Information
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