PPP Loan Data — Wilbourne Trucking Incorporated, Skipwith, VA
Wilbourne Trucking Incorporated is a corporation located at 2476 Wilbourne Road in Skipwith, Virginia that received a Coronavirus-related PPP loan from the SBA of $24,900.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First-Citizens Bank & Trust Company
Wilbourne Trucking Incorporated in Skipwith, VA received a Paycheck Protection Loan of $24,900 through First-Citizens Bank & Trust Company, 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 February, 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, Wilbourne Trucking Incorporated's 2019 payroll expenses are estimated to be at least $119,520.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $23,904 per employee1
Reported PPP Proceed Usage:
On the PPP application, Wilbourne Trucking Incorporated reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,900
Business Information - Wilbourne Trucking Incorporated in Skipwith, VA
2476 Wilbourne Road
Skipwith, VA 23968
NAICS code 113310
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Skipwith
In the Skipwith area, 3 businesses in the "Logging" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 5) and received an average PPP loan of $53,367 (compared to this company's $24,900).
Similar Nearby Businesses Who Received PPP Funding:
Hollywood Hauling LLC
Triple W Logging Incorporated
Industry PPP Comparison Statistics
Nationwide, 12,498 businesses in the "Logging" industry received a total of $628.53M 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 5 employees, the same amount reported by Wilbourne Trucking Incorporated and received an average PPP loan of $50,291, 102% higher than this company's loan of $24,900.
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Footnotes & Information
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