J.A. RIGGS TRACTOR COMPANY
PPP Loan approved Apr 8, 2020 through Simmons Bank
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $6,648,786.00 | 98.1% |
| Utilities | $129,614.00 | 1.9% |
About This Loan
J.A. RIGGS TRACTOR COMPANY received a PPP loan of $6,778,400 approved on Apr 8, 2020. The loan was originated by Simmons Bank.
J.A. RIGGS TRACTOR COMPANY is a subchapter s corporation located in LITTLE ROCK, Arkansas. At the time of the application, the business was described as "existing or more than 2 years old".
The business operates in the Manufacturing industry (NAICS 333924), part of the Manufacturing sector of the economy. The applicant reported 448 jobs as retained through this loan.
The SBA forgave $6,857,293.04 of this loan — 101.2% of the total approved amount, with forgiveness recorded on Jun 15, 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: $6,648,786 to payroll, $129,614 to utilities. The payroll component represents 98.1% 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 Arkansas, visit the Arkansas page. To compare this loan with others in the same industry, see the Manufacturing industry page.