PPP Loan Data — Tri County Equipment, Inc, Sandusky, MI
Tri County Equipment, Inc
Entity: Subchapter S Corporation
Location: Sandusky, MITweet This • Search All PPP Data
Tri County Equipment, Inc is a subchapter s corporation located at 989 W Sanilac Rd in Sandusky, Michigan that received a Coronavirus-related PPP loan from the SBA of $1,706,348.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:JPMorgan Chase Bank, National Association
Tri County Equipment, Inc in Sandusky, MI received a Paycheck Protection Loan of $1.71M through JPMorgan Chase Bank, National Association, 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 May, 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, Tri County Equipment, Inc's 2019 payroll expenses are estimated to be at least $8.19M.
Based on their reported 170 jobs retained, this equals an estimated average yearly compensation of $48,179 per employee1
Reported PPP Proceed Usage:
On the PPP application, Tri County Equipment, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,706,348
Business Information - Tri County Equipment, Inc in Sandusky, MI
989 W Sanilac Rd
Sandusky, MI 48471
Farm and Garden Machinery and Equipment Merchant Wholesalers
NAICS code 423820
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Sandusky
In the Sandusky area, 2 businesses in the "Farm and Garden Machinery and Equipment Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 101 employees (compared to this company's 170) and received an average PPP loan of $1,082,238 (compared to this company's $1.71M).
Similar Nearby Businesses Who Received PPP Funding:
TNT Equipment, Inc
Industry PPP Comparison Statistics
Nationwide, 3,216 businesses in the "Farm and Garden Machinery and Equipment Merchant Wholesalers" industry received a total of $635.92M 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 17 employees, 90% lower than Tri County Equipment, Inc's reported 170 employees, and received an average PPP loan of $197,736, 88% lower than this company's loan of $1.71M.
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Footnotes & Information
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