PPP Loan Data — Grice Logging 2 LLC, Lisman, AL
Grice Logging 2 LLC is a limited liability company (LLC) located at 1924 Robin Cir in Lisman, Alabama that received a Coronavirus-related PPP loan from the SBA of $45,800.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Grice Logging 2 LLC in Lisman, AL received a Paycheck Protection Loan of $45,800 through BankPlus, which was approved in May, 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 June, 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, Grice Logging 2 LLC's 2019 payroll expenses are estimated to be at least $219,840.
Based on their reported 8 jobs retained, this equals an estimated average yearly compensation of $27,480 per employee1
Reported PPP Proceed Usage:
On the PPP application, Grice Logging 2 LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $45,800
Business Information - Grice Logging 2 LLC in Lisman, AL
1924 Robin Cir
Lisman, AL 36912
NAICS code 113310
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Lisman
In the Lisman area, 4 businesses in the "Logging" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 8) and received an average PPP loan of $46,467 (compared to this company's $45,800).
Similar Nearby Businesses Who Received PPP Funding:
Greg Adam Logging, LLC
K T Trucking LLC
Industry PPP Comparison Statistics
Nationwide, 12,498 businesses in the "Logging" industry received a total of $628.53M 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 5 employees, 38% lower than Grice Logging 2 LLC's reported 8 employees, and received an average PPP loan of $50,291, 10% higher than this company's loan of $45,800.
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Footnotes & Information
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