PPP Loan Data — Carter Roag Coal Company, Johnson City, TN
Carter Roag Coal Company is a corporation located at 2112 North Roan Street in Johnson City, Tennessee that received a Coronavirus-related PPP loan from the SBA of $3,782,757.00 in April, 2020.
$ PPP Loan Information
Lender:FIRST HORIZON BANK
Carter Roag Coal Company in Johnson City, TN received a Paycheck Protection Loan of $3.78M through FIRST HORIZON BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Carter Roag Coal Company's total 2019 payroll expenses were approximately $18.16M in order to qualify for the PPP loan amount received.
Based on their reported 194 jobs retained, this equals an estimated average yearly compensation of $93,594 per employee1.
Business Information - Carter Roag Coal Company in Johnson City, TN
2112 North Roan Street
Johnson City, TN 37601
Bituminous Coal and Lignite Surface Mining (NAICS code 212111)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: TN-01
Similar Companies near Johnson City
In the Johnson City area, 4 businesses in the "Bituminous Coal and Lignite Surface Mining" industry received a PPP loan. These local businesses reported an average of 261 employees (compared to this company's 194) and received an average PPP loan of $5,340,540 (compared to this company's $3.78M).
Similar Nearby Businesses Who Received PPP Funding:
Wellmore Energy Company LLC
Johnson City, TN
Pocahontas Coal Company LLC
Johnson City, TN
United Coal Company LLC
Johnson City, TN
Industry PPP Comparison Statistics
Nationwide, 132 businesses in the "Bituminous Coal and Lignite Surface Mining" industry received a total of $106,842,408.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 45 employees, 77% lower than Carter Roag Coal Company's reported 194 employees, and received an average PPP loan of $809,412, 79% lower than this company's loan of $3.78M.
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, and is published unmodified, as provided by the SBA.
Footnotes & Information
1. 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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