PPP Loan Data — Elk Mountain Lumber, LLC, Conroe, TX
Elk Mountain Lumber, LLC
Entity: Limited Liability Company (LLC)
Location: Conroe, TXTweet This • Search All PPP Data
Elk Mountain Lumber, LLC is a limited liability company (LLC) located at 1390 Porter Rd in Conroe, Texas that received a Coronavirus-related PPP loan from the SBA of $1,654,900.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Frontier Bank of Texas
Elk Mountain Lumber, LLC in Conroe, TX received a Paycheck Protection Loan of $1.65M through Frontier Bank of Texas, 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 December, 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, Elk Mountain Lumber, LLC's 2019 payroll expenses are estimated to be at least $7.94M.
Based on their reported 180 jobs retained, this equals an estimated average yearly compensation of $44,131 per employee1
Reported PPP Proceed Usage:
On the PPP application, Elk Mountain Lumber, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,654,900
Business Information - Elk Mountain Lumber, LLC in Conroe, TX
1390 Porter Rd
Conroe, TX 77301
Lumber, Plywood, Millwork, and Wood Panel Merchant Wholesalers
NAICS code 423310
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 5,326 businesses in the "Lumber, Plywood, Millwork, and Wood Panel Merchant Wholesalers" industry received a total of $1.04B 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 18 employees, 90% lower than Elk Mountain Lumber, LLC's reported 180 employees, and received an average PPP loan of $194,849, 88% lower than this company's loan of $1.65M.
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Footnotes & Information
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