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PPP Loan Data — Trotter Incorporated, Arcadia, NE

SBA PPP loan data, payroll data, and salaries for Trotter Incorporated
NE

Trotter Incorporated

Entity: Corporation

Industry: Farm Supplies Merchant Wholesalers

Location: Arcadia, NE

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Trotter Incorporated is a corporation located at 300 W Railway in Arcadia, Nebraska that received a Coronavirus-related PPP loan from the SBA of $2,518,565.00 in April, 2020.

The company has reported itself as a male veteran owned business, and employed at least 210 people during the applicable loan loan period.

$ PPP Loan Information
Loan #7237367008

Loan Size:

$2.52M

Jobs Retained:

210

Loan Approved:

2020-04-07

Loan Status:

Paid in Full or Forgiven

Lender:

First National Bank of Omaha

Trotter Incorporated in Arcadia, NE received a Paycheck Protection Loan of $2.52M through First National Bank of Omaha, 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 July, 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 More
Understanding 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 More

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, Trotter Incorporated's 2019 payroll expenses are estimated to be at least $12.09M.

Based on their reported 210 jobs retained, this equals an estimated average yearly compensation of $57,567 per employee1

Reported PPP Proceed Usage:

On the PPP application, Trotter Incorporated reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $2,518,565
Because the loan received by Trotter Incorporated is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Trotter Incorporated in Arcadia, NE

Trotter Incorporated
300 W Railway
Arcadia, NE 68815

Business Industry:
Farm Supplies Merchant Wholesalers
NAICS code 424910

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Male Owned

Veteran Status: Veteran

Business Demographics

Business Age:

LMI Zone: N

HUBZone: N

Rural / Urban: Rural

Valley County, NE — SBA Office 0766 — Congressional District: NE-03

Businesses Using Same Address:

There is one other business that received a PPP loan registered to the same address as Trotter Incorporated.

Riverside Fertilizer & Propane Inc
Farm Supplies Merchant Wholesalers

$173,336 PPP Loan

Similar Companies near Arcadia

In the Arcadia area, 4 businesses in the "Farm Supplies Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 61 employees (compared to this company's 210) and received an average PPP loan of $737,676 (compared to this company's $2.52M).

Industry PPP Comparison Statistics

Nationwide, 4,352 businesses in the "Farm Supplies Merchant Wholesalers" industry received a total of $607.44M 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 13 employees, 94% lower than Trotter Incorporated's reported 210 employees, and received an average PPP loan of $139,577, 94% lower than this company's loan of $2.52M.

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.

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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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Source: www.federalpay.org/paycheck-protection-program/trotter-incorporated-arcadia-ne