PPP Loan Data — King Logging Inc, Minter, AL
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
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
470 Smith Place Rd
Minter, AL 36761
Logging (NAICS code 113310)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional 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).
Similar Nearby Businesses Who Received PPP Funding:
Cedar Creek Logging Company, Inc
Smith IV Logging, LLC
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.
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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