PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Mega Highwall Mining LLC, Ashland, KY

ALERT: There are 2 PPP loans for a total of $2.56M in our database for businesses with the name "Mega Highwall Mining LLC" in Ashland, KY. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Mega Highwall Mining LLC
KY

Mega Highwall Mining LLC

Entity: Limited Liability Company (LLC)

Industry: Bituminous Coal Underground Mining

Location: Ashland, KY

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Mega Highwall Mining LLC is a limited liability company (LLC) located at 12081 Virginia Blvd in Ashland, Kentucky that received a Coronavirus-related PPP loan from the SBA of $1,276,777.00 in February, 2021.

The company has reported itself as a male owned business, and employed at least 64 people during the applicable loan loan period.

$ PPP Loan Information
Loan #7646588404

Loan Size:

$1.28M

Jobs Retained:

64

Loan Approved:

2021-02-12

Loan Status:

Ongoing Loan

Lender:

U.S. Bank, National Association

Mega Highwall Mining LLC in Ashland, KY received a Paycheck Protection Loan of $1.28M through U.S. Bank, National Association, which was approved in February, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA. The loan's status was last updated by the SBA in November, -0001.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Mega Highwall Mining LLC's 2019 payroll expenses are estimated to be at least $6.13M.

Based on their reported 64 jobs retained, this equals an estimated average yearly compensation of $95,758 per employee1

Reported PPP Proceed Usage:

On the PPP application, Mega Highwall Mining LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,276,773
  • Utilities: $1

Business Information - Mega Highwall Mining LLC in Ashland, KY

Mega Highwall Mining LLC
12081 Virginia Blvd
Ashland, KY 41102

Business Industry:
Bituminous Coal Underground Mining
NAICS code 212112

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Male Owned

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: Y

Rural / Urban: Urban

Boyd County, KY — SBA Office 0457 — Congressional District: KY-05

Industry PPP Comparison Statistics

Nationwide, 137 businesses in the "Bituminous Coal Underground Mining" industry received a total of $109.86M 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 45 employees, 30% lower than Mega Highwall Mining LLC's reported 64 employees, and received an average PPP loan of $801,906, 37% lower than this company's loan of $1.28M.

SBA PPP loan data, payroll data, and salaries for Mega Highwall Mining, LLC
KY

Mega Highwall Mining, LLC

Entity: Limited Liability Company (LLC)

Industry: Bituminous Coal and Lignite Surface Mining

Location: Ashland, KY

Search All PPP Data

Mega Highwall Mining, LLC is a limited liability company (LLC) located at 12081 Virginia Blvd in Ashland, Kentucky that received a Coronavirus-related PPP loan from the SBA of $1,278,363.00 in May, 2020.

The company has reported itself as a male owned business, and employed at least 64 people during the applicable loan loan period.

$ PPP Loan Information
Loan #9333387307

Loan Size:

$1.28M

Jobs Retained:

64

Loan Approved:

2020-05-01

Loan Status:

Paid in Full or Forgiven

Lender:

U.S. Bank, National Association

Mega Highwall Mining, LLC in Ashland, KY received a Paycheck Protection Loan of $1.28M through U.S. Bank, National Association, which was approved in May, 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 August, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Mega Highwall Mining, LLC's 2019 payroll expenses are estimated to be at least $6.14M.

Based on their reported 64 jobs retained, this equals an estimated average yearly compensation of $95,877 per employee1

Reported PPP Proceed Usage:

On the PPP application, Mega Highwall Mining, LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,278,363

Business Information - Mega Highwall Mining, LLC in Ashland, KY

Mega Highwall Mining, LLC
12081 Virginia Blvd
Ashland, KY 41102

Business Industry:
Bituminous Coal and Lignite Surface Mining
NAICS code 212111

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Male Owned

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: Y

Rural / Urban: Urban

Boyd County, KY — SBA Office 0457 — Congressional District: KY-04

Similar Companies near Ashland

In the Ashland area, 2 businesses in the "Bituminous Coal and Lignite Surface Mining" industry received a PPP loan. These local businesses reported an average of 57 employees (compared to this company's 64) and received an average PPP loan of $1,044,532 (compared to this company's $1.28M).

Similar Nearby Businesses Who Received PPP Funding:

Addcar Systems
Ashland, KY

$810,700 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 237 businesses in the "Bituminous Coal and Lignite Surface Mining" industry received a total of $143.21M 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 38 employees, 41% lower than Mega Highwall Mining, LLC's reported 64 employees, and received an average PPP loan of $604,257, 53% lower than this company's loan of $1.28M.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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/mega-highwall-mining-llc-ashland-ky