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PPP Loan Data — Laurel Grocery Company LLC, London, KY

SBA PPP loan data, payroll data, and salaries for Laurel Grocery Company LLC
KY

Laurel Grocery Company LLC

Entity: Corporation

Industry: General Line Grocery Merchant Wholesalers

Location: London, KY

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Laurel Grocery Company LLC is a corporation located at 129 Barbourville Road in London, Kentucky that received a Coronavirus-related PPP loan from the SBA of $3,209,900.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 468 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$3.21M

Jobs Retained:

468

Loan Approved:

2020-04-08

Lender:

PNC BANK, NATIONAL ASSOCIATION

Laurel Grocery Company LLC received a Paycheck Protection Loan of $3.21M through PNC BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Laurel Grocery Company LLC's total 2019 payroll expenses were approximately $15.41M in order to qualify for the PPP loan amount received.

Based on their reported 468 jobs retained, this equals an estimated average yearly compensation of $32,922 per employee1.

Because the loan received by Laurel Grocery Company LLC 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 - Laurel Grocery Company LLC in London, KY

Laurel Grocery Company LLC
129 Barbourville Road
London, KY 40744

Business Industry

General Line Grocery Merchant Wholesalers (NAICS code 424410)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: Unreported

Congressional District: KY-05

Industry PPP Comparison Statistics

Nationwide, 4,442 businesses in the "General Line Grocery Merchant Wholesalers" industry received a total of $596,799,136.00 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, 97% lower than Laurel Grocery Company LLC's reported 468 employees, and received an average PPP loan of $134,354, 96% lower than this company's loan of $3.21M.

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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) 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/laurel-grocery-company-llc-london-ky