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PPP Loan Data — King Logging Inc, Minter, AL

SBA PPP loan data, payroll data, and salaries for King Logging Inc
AL

King Logging Inc

Entity: Corporation

Industry: Logging

Location: Minter, AL

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King Logging Inc is a corporation located at 470 Smith Place Rd in Minter, Alabama that received a Coronavirus-related PPP loan from the SBA of $77,197.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$77,197

Jobs Retained:

9

Loan Approved:

2020-04-07

Lender:

FIRST CITIZENS BANK

King Logging Inc in Minter, AL received a Paycheck Protection Loan of $77,197 through FIRST CITIZENS BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, King Logging Inc's total 2019 payroll expenses were approximately $370,546 in order to qualify for the PPP loan amount received.

Based on their reported 9 jobs retained, this equals an estimated average yearly compensation of $41,172 per employee1.

Business Information - King Logging Inc in Minter, AL

King Logging Inc
470 Smith Place Rd
Minter, AL 36761

Business Industry

Logging (NAICS code 113310)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: AL-07

Similar Companies near Minter

In the Minter area, 3 businesses in the "Logging" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 9) and received an average PPP loan of $48,463 (compared to this company's $77,197).

Industry PPP Comparison Statistics

Nationwide, 5,520 businesses in the "Logging" industry received a total of $397,584,679.00 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 7 employees, 22% lower than King Logging Inc's reported 9 employees, and received an average PPP loan of $72,026, 7% lower than this company's loan of $77,197.

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/king-logging-inc-minter-al