PPP Loan Data — Tyler 1 Inc, Anderson, IN
Tyler 1 Inc is a limited liability company (LLC) located at 845 East 53rd St in Anderson, Indiana that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least ten people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:BMO Harris Bank National Association
Tyler 1 Inc in Anderson, IN received a Paycheck Protection Loan of $25,000 through BMO Harris Bank National Association, 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, Tyler 1 Inc's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 10 jobs retained, this equals an estimated average yearly compensation of $12,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Tyler 1 Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Tyler 1 Inc in Anderson, IN
845 East 53rd St
Anderson, IN 46013
NAICS code 722511
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
Similar Companies near Anderson
In the Anderson area, 17 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 24 employees (compared to this company's 10) and received an average PPP loan of $76,925 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Ferrise Enterprises LLC
Greeks Pizzeria Of Anderson
Lantern House Asian Bistro LLC
Big Sky Steaks Inc
GLS Associates, LLC
Nik's Pancake House Inc
Amy Koontz Mikel
Industry PPP Comparison Statistics
Nationwide, 328,914 businesses in the "Full-Service Restaurants" industry received a total of $42.6B in PPP loans. These businesses account for 3% of total PPP applications submitted, and received 5% of the total PPP funding allocated.
PPP recipients in this industry report an average of 22 employees, 120% higher than Tyler 1 Inc's reported 10 employees, and received an average PPP loan of $129,504, 418% higher than this company's loan of $25,000.
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