PPP Loan Data — Longview Power, LLC, Maidsville, WV
Longview Power, LLC is a limited liability company (LLC) located at 1375 Fort Martin Rd in Maidsville, West Virginia that received a Coronavirus-related PPP loan from the SBA of $3,000,000.00 in August, 2020.
$ PPP Loan Information
Lender:FIRST UNITED BANK & TRUST
Longview Power, LLC received a Paycheck Protection Loan of $3M through FIRST UNITED BANK & TRUST, which was approved in August, 2020.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 131 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 144.
Based on standard PPP eligibility rules, Longview Power, LLC's total 2019 payroll expenses were approximately $14.4M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 131 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - Longview Power, LLC in Maidsville, WV
1375 Fort Martin Rd
Maidsville, WV 26541
Other Electric Power Generation (NAICS code 221118)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: WV-01
Industry PPP Comparison Statistics
Nationwide, 1,692 businesses in the "Other Electric Power Generation" industry received a total of $212,536,444.00 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 8 employees, 94% lower than Longview Power, LLC's reported 131 employees, and received an average PPP loan of $125,613, 96% lower than this company's loan of $3M.
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Footnotes & Information
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