PPP Loan Data — L&M Contracting, LLC, Winchester, KY
L&M Contracting, LLC is a limited liability company (LLC) located at 1934 Ford Hampton Rd in Winchester, Kentucky that received a Coronavirus-related PPP loan from the SBA of $47,000.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least five people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Peoples Exchange Bank
L&M Contracting, LLC in Winchester, KY received a Paycheck Protection Loan of $47,000 through Peoples Exchange Bank, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in January, 2021.
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, L&M Contracting, LLC's 2019 payroll expenses are estimated to be at least $225,600.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $45,120 per employee1
Reported PPP Proceed Usage:
On the PPP application, L&M Contracting, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $47,000
Business Information - L&M Contracting, LLC in Winchester, KY
1934 Ford Hampton Rd
Winchester, KY 40391
Site Preparation Contractors
NAICS code 238910
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Winchester
In the Winchester area, 4 businesses in the "Site Preparation Contractors" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 5) and received an average PPP loan of $53,151 (compared to this company's $47,000).
Similar Nearby Businesses Who Received PPP Funding:
Spurgeon Excavating Inc
D And M Dozer LLC
Horn & Associates, Inc
Industry PPP Comparison Statistics
Nationwide, 30,927 businesses in the "Site Preparation Contractors" industry received a total of $4.31B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 12 employees, 140% higher than L&M Contracting, LLC's reported 5 employees, and received an average PPP loan of $139,293, 196% higher than this company's loan of $47,000.
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Footnotes & Information
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