PPP Loan Data — TTS Supply Inc, Morgantown, WV
TTS Supply Inc
Location: Morgantown, WVTweet This • Search All PPP Data
TTS Supply Inc is a corporation located at 949 Canyon Rd in Morgantown, West Virginia that received a Coronavirus-related PPP loan from the SBA of $25,394.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least three people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:MVB Bank, Inc.
TTS Supply Inc in Morgantown, WV received a Paycheck Protection Loan of $25,394 through MVB Bank, Inc., 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, TTS Supply Inc's 2019 payroll expenses are estimated to be at least $121,891.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,630 per employee1
Reported PPP Proceed Usage:
On the PPP application, TTS Supply Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,394
Business Information - TTS Supply Inc in Morgantown, WV
949 Canyon Rd
Morgantown, WV 26508
Other Miscellaneous Nondurable Goods Merchant Wholesalers
NAICS code 424990
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 15,243 businesses in the "Other Miscellaneous Nondurable Goods Merchant Wholesalers" industry received a total of $1.34B 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 9 employees, 200% higher than TTS Supply Inc's reported 3 employees, and received an average PPP loan of $88,038, 247% higher than this company's loan of $25,394.
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