PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — BPM Lumber LLC, Lexington, KY

ALERT: There are 2 PPP loans for a total of $4.21M in our database for businesses with the name "BPM Lumber LLC" in Lexington, KY. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for BPM Lumber LLC
KY

BPM Lumber LLC

Entity: Limited Liability Company (LLC)

Industry: Logging

Location: Lexington, KY

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BPM Lumber LLC is a limited liability company (LLC) located at 1256 Manchester St in Lexington, Kentucky that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in January, 2021.

$ PPP Loan Information
Loan #6721778300

Loan Size:

$2M

Jobs Retained:

170

Loan Approved:

2021-01-27

Loan Status:

Ongoing Loan

Lender:

1st Trust Bank, Inc.

BPM Lumber LLC in Lexington, KY received a Paycheck Protection Loan of $2M through 1st Trust Bank, Inc., which was approved in January, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, BPM Lumber LLC's 2019 payroll expenses are estimated to be at least $9.6M.

Based on their reported 170 jobs retained, this equals an estimated average yearly compensation of $56,471 per employee1

Reported PPP Proceed Usage:

On the PPP application, BPM Lumber LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,999,997
  • Utilities: $1
Because the loan received by BPM Lumber LLC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - BPM Lumber LLC in Lexington, KY

BPM Lumber LLC
1256 Manchester St
Lexington, KY 40504

Business Industry:
Logging
NAICS code 113310

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: Y

Rural / Urban: Urban

Fayette County, KY — SBA Office 0457 — Congressional District: KY-06

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, 97% lower than BPM Lumber LLC's reported 170 employees, and received an average PPP loan of $50,291, 97% lower than this company's loan of $2M.

SBA PPP loan data, payroll data, and salaries for BPM Lumber, LLC
KY

BPM Lumber, LLC

Entity: Limited Liability Company (LLC)

Industry: Home Centers

Location: Lexington, KY

Search All PPP Data

BPM Lumber, LLC is a limited liability company (LLC) located at 1256 Manchester Street in Lexington, Kentucky that received a Coronavirus-related PPP loan from the SBA of $2,207,000.00 in April, 2020.

$ PPP Loan Information
Loan #5327417004

Loan Size:

$2.21M

Jobs Retained:

170

Loan Approved:

2020-04-05

Loan Status:

Ongoing Loan

Lender:

1st Trust Bank, Inc.

BPM Lumber, LLC in Lexington, KY received a Paycheck Protection Loan of $2.21M through 1st Trust Bank, Inc., which was approved in April, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, BPM Lumber, LLC's 2019 payroll expenses are estimated to be at least $10.59M.

Based on their reported 170 jobs retained, this equals an estimated average yearly compensation of $62,315 per employee1

Reported PPP Proceed Usage:

On the PPP application, BPM Lumber, LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,655,250
  • Utilities: $551,750
Because the loan received by BPM Lumber, LLC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - BPM Lumber, LLC in Lexington, KY

BPM Lumber, LLC
1256 Manchester Street
Lexington, KY 40504

Business Industry:
Home Centers
NAICS code 444110

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: Y

Rural / Urban: Urban

Fayette County, KY — SBA Office 0457 — Congressional District: KY-06

Industry PPP Comparison Statistics

Nationwide, 3,151 businesses in the "Home Centers" industry received a total of $435M 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 15 employees, 91% lower than BPM Lumber, LLC's reported 170 employees, and received an average PPP loan of $138,053, 94% lower than this company's loan of $2.21M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. ยง 552 (Freedom of Information Act) and 5 U.S.C. ยง 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/bpm-lumber-llc-lexington-ky