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PPP Loan Data — Traditional Logistics & Carthage, LLC,
Simpsonville, KY
Traditional Logistics & Carthage, LLC
Entity: Limited Liability Company (LLC)
Industry: Freight Transportation Arrangement
Location: Simpsonville, KY
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Traditional Logistics & Carthage, LLC is a limited liability company (LLC) located at 122 Citizens Blvd in Simpsonville, Kentucky that received a Coronavirus-related PPP loan from the SBA of $5,516,300.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 448 people during the applicable loan loan period.
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PPP Loan Information
Loan #8307777101
Loan Size:
Jobs Retained:
448Loan Approved:
2020-04-15Loan Status:
Paid in Full or ForgivenLender:
German American BankTraditional Logistics & Carthage, LLC in Simpsonville, KY received a Paycheck Protection Loan of $5.52M through German American Bank, 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 October, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Traditional Logistics & Carthage, LLC's 2019 payroll expenses are estimated to be at least $26.48M.
Based on their reported 448 jobs retained, this equals an estimated average yearly compensation of $59,103 per employee1
Reported PPP Proceed Usage:
On the PPP application, Traditional Logistics & Carthage, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $5,516,300
Business Information - Traditional Logistics & Carthage, LLC in Simpsonville, KY
122 Citizens Blvd
Simpsonville, KY 40067
Business Industry:
Freight Transportation Arrangement
NAICS code 488510
Business Owner Demographics
Race: White
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Rural
Businesses Using Same Address:
There are 5 other businesses that received a PPP loan registered to the same address as Traditional Logistics & Carthage, LLC.
New Model Logistics LLC
Freight Transportation Arrangement
N To N Construction LLC
Commercial and Institutional Building Construction
RCS Transportation - Lap LLC
Support Activities for Rail Transportation
Valiant Management And Holdings, LLC
Freight Transportation Arrangement
Titan Transportation Services, LLC
Freight Transportation Arrangement
Similar Companies near Simpsonville
In the Simpsonville area, 4 businesses in the "Freight Transportation Arrangement" industry received a PPP loan. These local businesses reported an average of 161 employees (compared to this company's 448) and received an average PPP loan of $1,850,200 (compared to this company's $5.52M).
Similar Nearby Businesses Who Received PPP Funding:
New Model Logistics LLC
Simpsonville, KY
Valiant Management And Holdings, LLC
Simpsonville, KY
Titan Transportation Services, LLC
Simpsonville, KY
Industry PPP Comparison Statistics
Nationwide, 25,512 businesses in the "Freight Transportation Arrangement" industry received a total of $1.87B 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 7 employees, 98% lower than Traditional Logistics & Carthage, LLC's reported 448 employees, and received an average PPP loan of $73,470, 99% lower than this company's loan of $5.52M.
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. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. 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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