PPP Loan Data — Freeman Gas & Electric Co., Inc., Roebuck, SC
Freeman Gas & Electric Co., Inc. is a corporation located at 113 Peake Rd in Roebuck, South Carolina that received a Coronavirus-related PPP loan from the SBA of $3,347,963.00 in April, 2020.
$ PPP Loan Information
Freeman Gas & Electric Co., Inc. in Roebuck, SC received a Paycheck Protection Loan of $3.35M through SYNOVUS BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Freeman Gas & Electric Co., Inc.'s total 2019 payroll expenses were approximately $16.07M in order to qualify for the PPP loan amount received.
Based on their reported 274 jobs retained, this equals an estimated average yearly compensation of $58,650 per employee1.
Business Information - Freeman Gas & Electric Co., Inc. in Roebuck, SC
113 Peake Rd
Roebuck, SC 29376
Natural Gas Distribution (NAICS code 221210)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: SC-04
Industry PPP Comparison Statistics
Nationwide, 706 businesses in the "Natural Gas Distribution" industry received a total of $114,451,120.00 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 11 employees, 96% lower than Freeman Gas & Electric Co., Inc.'s reported 274 employees, and received an average PPP loan of $162,112, 95% lower than this company's loan of $3.35M.
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.
Have FederalPay.org's open data tools been valuable? Consider donating!