PPP Loan Data — Frierson Financials, LLC, Seneca, SC
Frierson Financials, LLC is a limited liability company (LLC) located at 135 J Eagles Nest Drive in Seneca, South Carolina that received a Coronavirus-related PPP loan from the SBA of $24,845.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least two people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:South State Bank, National Association
Frierson Financials, LLC in Seneca, SC received a Paycheck Protection Loan of $24,845 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 February, 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, Frierson Financials, LLC's 2019 payroll expenses are estimated to be at least $119,256.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $59,628 per employee1
Reported PPP Proceed Usage:
On the PPP application, Frierson Financials, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,845
Business Information - Frierson Financials, LLC in Seneca, SC
135 J Eagles Nest Drive
Seneca, SC 29678
Miscellaneous Financial Investment Activities
NAICS code 523999
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Seneca
In the Seneca area, 2 businesses in the "Miscellaneous Financial Investment Activities" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 2) and received an average PPP loan of $14,915 (compared to this company's $24,845).
Similar Nearby Businesses Who Received PPP Funding:
Gray Wealth Mangement
Industry PPP Comparison Statistics
Nationwide, 12,855 businesses in the "Miscellaneous Financial Investment Activities" industry received a total of $583.39M 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 3 employees, 50% higher than Frierson Financials, LLC's reported 2 employees, and received an average PPP loan of $45,383, 83% higher than this company's loan of $24,845.
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Footnotes & Information
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