PPP Loan Data — Lewis M. Carter Manufacturing Company, Inc, Donalsonville, GA
Lewis M. Carter Manufacturing Company, Inc is a corporation located at 615 Hwy 84 West in Donalsonville, Georgia that received a Coronavirus-related PPP loan from the SBA of $1,863,900.00 in April, 2020.
The company has reported itself as a White male veteran owned business, and employed at least 180 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lewis M. Carter Manufacturing Company, Inc in Donalsonville, GA received a Paycheck Protection Loan of $1.86M through BBVA USA, which was approved in April, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Lewis M. Carter Manufacturing Company, Inc's 2019 payroll expenses are estimated to be at least $8.95M.
Based on their reported 180 jobs retained, this equals an estimated average yearly compensation of $49,704 per employee1
Reported PPP Proceed Usage:
On the PPP application, Lewis M. Carter Manufacturing Company, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,397,925
- Utilities: $232,988
- Rent: $232,988
Business Information - Lewis M. Carter Manufacturing Company, Inc in Donalsonville, GA
615 Hwy 84 West
Donalsonville, GA 39845
All Other Personal Services
NAICS code 812990
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Similar Companies near Donalsonville
In the Donalsonville area, 6 businesses in the "All Other Personal Services" industry received a PPP loan. These local businesses reported an average of 52 employees (compared to this company's 180) and received an average PPP loan of $400,704 (compared to this company's $1.86M).
Similar Nearby Businesses Who Received PPP Funding:
Gotobrazils Waxing Center Inc
Millie Smith Daniels
Industry PPP Comparison Statistics
Nationwide, 237,729 businesses in the "All Other Personal Services" industry received a total of $5.63B in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 3 employees, 98% lower than Lewis M. Carter Manufacturing Company, Inc's reported 180 employees, and received an average PPP loan of $23,676, 99% lower than this company's loan of $1.86M.
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Footnotes & Information
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