JOB-SITE TRUCK & EQUIPMENT LEA
PPP Loan approved May 1, 2020 through Peoples Bank
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $40,000.00 | 75.0% |
| Rent / Lease | $13,305.00 | 25.0% |
About This Loan
JOB-SITE TRUCK & EQUIPMENT LEA received a PPP loan of $53,305 approved on May 1, 2020. The loan was originated by Peoples Bank.
JOB-SITE TRUCK & EQUIPMENT LEA is a corporation located in CULLODEN, West Virginia. At the time of the application, the business was described as "existing or more than 2 years old".
The business operates in the Automotive Equipment Rental and Leasing industry (NAICS 532120), part of the Real Estate and Rental and Leasing sector of the economy. The applicant reported 5 jobs as retained through this loan.
The SBA forgave $53,941.70 of this loan — 101.2% of the total approved amount, with forgiveness recorded on Jul 19, 2021. This means the borrower was not required to repay this portion, having satisfied the PPP's eligibility criteria for forgiveness, including maintaining payroll levels and using the funds for qualified expenses.
According to the SBA's records, the proceeds of this loan were allocated as follows: $40,000 to payroll, $13,305 to rent or lease obligations. The payroll component represents 75.0% of disclosed proceeds, consistent with the program's requirement that at least 60% of loan funds be used for payroll costs to qualify for full forgiveness.
This loan is one of millions approved nationwide during the COVID-19 pandemic. To explore other recipients in West Virginia, visit the West Virginia page. To compare this loan with others in the same industry, see the Automotive Equipment Rental and Leasing industry page.