PPP Loan Data — TRU Cut Tree Service Inc, Kokomo, IN
TRU Cut Tree Service Inc is a corporation located at 101 Butler St in Kokomo, Indiana that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:BMO Harris Bank National Association
TRU Cut Tree Service Inc in Kokomo, IN received a Paycheck Protection Loan of $25,000 through BMO Harris Bank National Association, which was approved in May, 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, TRU Cut Tree Service Inc's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $20,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, TRU Cut Tree Service Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - TRU Cut Tree Service Inc in Kokomo, IN
101 Butler St
Kokomo, IN 46901
NAICS code 561730
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Kokomo
In the Kokomo area, 22 businesses in the "Landscaping Services" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 6) and received an average PPP loan of $18,475 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Gingerich Lawn Care LLC
Helmuth Tree Service, LLC
The Backyard Gardeners LLC
Platinum Lawncare & Landscaping, LLC
Industry PPP Comparison Statistics
Nationwide, 138,585 businesses in the "Landscaping Services" industry received a total of $6.03B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 5 employees, 17% lower than TRU Cut Tree Service Inc's reported 6 employees, and received an average PPP loan of $43,486, 74% higher than this company's loan of $25,000.
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Footnotes & Information
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