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PPP Loan Data — Freeman Gas & Electric Co., Inc., Roebuck, SC

SBA PPP loan data, payroll data, and salaries for Freeman Gas & Electric Co., Inc.
SC

Freeman Gas & Electric Co., Inc.

Entity: Corporation

Industry: Natural Gas Distribution

Location: Roebuck, SC

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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

Loan Size:

$3.35M

Jobs Retained:

274

Loan Approved:

2020-04-11

Lender:

SYNOVUS BANK

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.

Because the loan received by Freeman Gas & Electric Co., Inc. is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Freeman Gas & Electric Co., Inc. in Roebuck, SC

Freeman Gas & Electric Co., Inc.
113 Peake Rd
Roebuck, SC 29376

Business Industry

Natural Gas Distribution (NAICS code 221210)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional 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.

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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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/freeman-gas-and-electric-co-inc-roebuck-sc