PPP Loan Data — Phoenix Wood Products LLC, Ocala, FL
Phoenix Wood Products LLC is a limited liability company (LLC) located at 3761 Northeast 36th Ave in Ocala, Florida that received a Coronavirus-related PPP loan from the SBA of $1,740,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:South State Bank, National Association
Phoenix Wood Products LLC in Ocala, FL received a Paycheck Protection Loan of $1.74M through South State Bank, National Association, 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 February, 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, Phoenix Wood Products LLC's 2019 payroll expenses are estimated to be at least $8.35M.
Based on their reported 202 jobs retained, this equals an estimated average yearly compensation of $41,347 per employee1
Reported PPP Proceed Usage:
On the PPP application, Phoenix Wood Products LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,740,000
Business Information - Phoenix Wood Products LLC in Ocala, FL
3761 Northeast 36th Ave
Ocala, FL 34479
Wood Container and Pallet Manufacturing
NAICS code 321920
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Ocala
In the Ocala area, 3 businesses in the "Wood Container and Pallet Manufacturing" industry received a PPP loan. These local businesses reported an average of 82 employees (compared to this company's 202) and received an average PPP loan of $703,167 (compared to this company's $1.74M).
Similar Nearby Businesses Who Received PPP Funding:
Heart Wood Products LLC
Phoenix Wood Transport, LLC
Industry PPP Comparison Statistics
Nationwide, 2,293 businesses in the "Wood Container and Pallet Manufacturing" industry received a total of $379.46M 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 22 employees, 89% lower than Phoenix Wood Products LLC's reported 202 employees, and received an average PPP loan of $165,486, 90% lower than this company's loan of $1.74M.
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Footnotes & Information
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