PPP Loan Data — Dilmar Oil Company,Inc, Florence, SC
Dilmar Oil Company,Inc
Entity: Subchapter S Corporation
Industry: Petroleum and Petroleum Products Merchant Wholesalers (except Bulk Stations and Terminals)
Location: Florence, SCTweet This • Search All PPP Data
Dilmar Oil Company,Inc is a subchapter s corporation located at 1951 W Darlington St in Florence, South Carolina that received a Coronavirus-related PPP loan from the SBA of $1,600,329.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:South State Bank, National Association
Dilmar Oil Company,Inc in Florence, SC received a Paycheck Protection Loan of $1.6M through South State Bank, National Association, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in May, 2021.
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, Dilmar Oil Company,Inc's 2019 payroll expenses are estimated to be at least $7.68M.
Based on their reported 114 jobs retained, this equals an estimated average yearly compensation of $67,382 per employee1
Reported PPP Proceed Usage:
On the PPP application, Dilmar Oil Company,Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,600,329
Business Information - Dilmar Oil Company,Inc in Florence, SC
1951 W Darlington St
Florence, SC 29501
Petroleum and Petroleum Products Merchant Wholesalers (except Bulk Stations and Terminals)
NAICS code 424720
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 3,488 businesses in the "Petroleum and Petroleum Products Merchant Wholesalers (except Bulk Stations and Terminals)" industry received a total of $829.52M 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 23 employees, 80% lower than Dilmar Oil Company,Inc's reported 114 employees, and received an average PPP loan of $237,822, 85% lower than this company's loan of $1.6M.
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Footnotes & Information
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