PPP Loan Data — Carolina Stalite Company LP, Salisbury, NC
Carolina Stalite Company LP is a subchapter s corporation located at 205 Klumac Rd in Salisbury, North Carolina that received a Coronavirus-related PPP loan from the SBA of $1,551,200.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First-Citizens Bank & Trust Company
Carolina Stalite Company LP in Salisbury, NC received a Paycheck Protection Loan of $1.55M through First-Citizens Bank & Trust Company, which was approved in April, 2020.
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, Carolina Stalite Company LP's 2019 payroll expenses are estimated to be at least $7.45M.
Based on their reported 129 jobs retained, this equals an estimated average yearly compensation of $57,719 per employee1
Reported PPP Proceed Usage:
On the PPP application, Carolina Stalite Company LP reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,551,200
Business Information - Carolina Stalite Company LP in Salisbury, NC
205 Klumac Rd
Salisbury, NC 28144
Construction Machinery Manufacturing
NAICS code 333120
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 2,642 businesses in the "Construction Machinery Manufacturing" industry received a total of $361.62M 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 11 employees, 91% lower than Carolina Stalite Company LP's reported 129 employees, and received an average PPP loan of $136,874, 91% lower than this company's loan of $1.55M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!