PPP Loan Data — Vincent J Simmons, Shreveport, LA
Vincent J Simmons
Entity: Limited Liability Company (LLC)
Location: Shreveport, LATweet This • Search All PPP Data
Vincent J Simmons is a limited liability company (LLC) located in Shreveport, Louisiana that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in June, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Vincent J Simmons in Shreveport, LA received a Paycheck Protection Loan of $25,000 through Regions Bank, which was approved in June, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 1. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
Reported PPP Proceed Usage:
On the PPP application, Vincent J Simmons reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Vincent J Simmons in Shreveport, LA
* Full address is redacted to protect the privacy of individuals.
Specialized Freight (except Used Goods) Trucking, Local
NAICS code 484220
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Shreveport
In the Shreveport area, 27 businesses in the "Specialized Freight (except Used Goods) Trucking, Local" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 1) and received an average PPP loan of $35,019 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 30,684 businesses in the "Specialized Freight (except Used Goods) Trucking, Local" industry received a total of $2.03B 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 6 employees, 500% higher than Vincent J Simmons' reported 1 employees, and received an average PPP loan of $66,149, 165% higher than this company's loan of $25,000.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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