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PPP Loan Data — Inman Mills, Inman, SC

SBA PPP loan data, payroll data, and salaries for Inman Mills
SC

Inman Mills

Entity: Subchapter S Corporation

Industry: All Other Miscellaneous Textile Product Mills

Location: Inman, SC

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Inman Mills is a subchapter s corporation located at 300 Park Rd in Inman, South Carolina that received a Coronavirus-related PPP loan from the SBA of $5,081,135.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$5.08M

Jobs Retained:

334

Loan Approved:

2020-04-15

Lender:

SOUTH STATE BANK, NATIONAL ASSOCIATION

Inman Mills in Inman, SC received a Paycheck Protection Loan of $5.08M through SOUTH STATE BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Inman Mills' total 2019 payroll expenses were approximately $24.39M in order to qualify for the PPP loan amount received.

Based on their reported 334 jobs retained, this equals an estimated average yearly compensation of $73,022 per employee1.

Because the loan received by Inman Mills 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 - Inman Mills in Inman, SC

Inman Mills
300 Park Rd
Inman, SC 29349

Business Industry

All Other Miscellaneous Textile Product Mills (NAICS code 314999)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: SC-04

Industry PPP Comparison Statistics

Nationwide, 1,679 businesses in the "All Other Miscellaneous Textile Product Mills" industry received a total of $266,289,361.00 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 14 employees, 96% lower than Inman Mills' reported 334 employees, and received an average PPP loan of $158,600, 97% lower than this company's loan of $5.08M.

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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Source: www.federalpay.org/paycheck-protection-program/inman-mills-inman-sc