PPP Loan Data — L & H Industrial Inc., Gillette, WY
L & H Industrial Inc. is a subchapter s corporation located at 913 L & J Court in Gillette, Wyoming that received a Coronavirus-related PPP loan from the SBA of $5,338,100.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 260 people during the applicable loan loan period.
$ PPP Loan Information
Lender:FIRST NATIONAL BANK OF GILLETTE
L & H Industrial Inc. in Gillette, WY received a Paycheck Protection Loan of $5.34M through FIRST NATIONAL BANK OF GILLETTE, which was approved in April, 2020.
Based on standard PPP eligibility rules, L & H Industrial Inc.'s total 2019 payroll expenses were approximately $25.62M in order to qualify for the PPP loan amount received.
Based on their reported 260 jobs retained, this equals an estimated average yearly compensation of $98,550 per employee1.
Business Information - L & H Industrial Inc. in Gillette, WY
913 L & J Court
Gillette, WY 82718
Construction Machinery Manufacturing (NAICS code 333120)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: UnreportedCongressional District: WY-
Industry PPP Comparison Statistics
Nationwide, 969 businesses in the "Construction Machinery Manufacturing" industry received a total of $249,568,529.00 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 19 employees, 93% lower than L & H Industrial Inc.'s reported 260 employees, and received an average PPP loan of $257,553, 95% lower than this company's loan of $5.34M.
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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