PPP Loan Data — Westbank Lawnmower LLC, Terrytown, LA
Westbank Lawnmower LLC
Entity: Limited Liability Company (LLC)
Industry: Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance
Location: Terrytown, LATweet This • Search All PPP Data
Westbank Lawnmower LLC is a limited liability company (LLC) located at 865 Terry Pkwy, in Terrytown, Louisiana that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Westbank Lawnmower LLC in Terrytown, LA received a Paycheck Protection Loan of $25,000 through Regions Bank, 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 January, 2021.
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, Westbank Lawnmower LLC'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, Westbank Lawnmower LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Westbank Lawnmower LLC in Terrytown, LA
865 Terry Pkwy,
Terrytown, LA 70056
Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance
NAICS code 811310
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Terrytown
In the Terrytown area, 3 businesses in the "Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance" 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 $19,105 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Jack D. Winters
Industry PPP Comparison Statistics
Nationwide, 22,310 businesses in the "Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance" industry received a total of $2.27B 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, 50% higher than Westbank Lawnmower LLC's reported 6 employees, and received an average PPP loan of $101,583, 306% higher than this company's loan of $25,000.
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Footnotes & Information
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