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PPP Loan Data — Premier Select Sires, Inc., Rocky Mount, VA

SBA PPP loan data, payroll data, and salaries for Premier Select Sires, Inc.
VA

Premier Select Sires, Inc.

Entity: Cooperative

Industry: Support Activities for Animal Production

Location: Rocky Mount, VA

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Premier Select Sires, Inc. is a cooperative located at 2623 Carolina Springs Road in Rocky Mount, Virginia that received a Coronavirus-related PPP loan from the SBA of $2,821,500.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.82M

Jobs Retained:

183

Loan Approved:

2020-04-06

Lender:

PEOPLES SECURITY BANK AND TRUST COMPANY

Premier Select Sires, Inc. received a Paycheck Protection Loan of $2.82M through PEOPLES SECURITY BANK AND TRUST COMPANY, which was approved in April, 2020.

Based on standard PPP eligibility rules, Premier Select Sires, Inc.'s total 2019 payroll expenses were approximately $13.54M in order to qualify for the PPP loan amount received.

Based on their reported 183 jobs retained, this equals an estimated average yearly compensation of $74,007 per employee1.

Because the loan received by Premier Select Sires, Inc. is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Premier Select Sires, Inc. in Rocky Mount, VA

Premier Select Sires, Inc.
2623 Carolina Springs Road
Rocky Mount, VA 24151

Business Industry

Support Activities for Animal Production (NAICS code 115210)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: VA-05

Industry PPP Comparison Statistics

Nationwide, 4,070 businesses in the "Support Activities for Animal Production" industry received a total of $188,073,950.00 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 6 employees, 97% lower than Premier Select Sires, Inc.'s reported 183 employees, and received an average PPP loan of $46,210, 98% lower than this company's loan of $2.82M.

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.

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Footnotes & Information

1. 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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/premier-select-sires-inc-rocky-mount-va