PPP Loan Data — R. L. Jordan Oil Company Of North Carolina, Inc, Spartanburg, SC
R. L. Jordan Oil Company Of North Carolina, Inc is a subchapter s corporation located at 1451 Fernwood Glendale Rd in Spartanburg, South Carolina that received a Coronavirus-related PPP loan from the SBA of $2,198,775.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
R. L. Jordan Oil Company Of North Carolina, Inc in Spartanburg, SC received a Paycheck Protection Loan of $2.2M through Synovus Bank, which was approved in April, 2020.
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, R. L. Jordan Oil Company Of North Carolina, Inc's 2019 payroll expenses are estimated to be at least $10.55M.
Based on their reported 350 jobs retained, this equals an estimated average yearly compensation of $30,155 per employee1
Reported PPP Proceed Usage:
On the PPP application, R. L. Jordan Oil Company Of North Carolina, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,198,775
Business Information - R. L. Jordan Oil Company Of North Carolina, Inc in Spartanburg, SC
1451 Fernwood Glendale Rd
Spartanburg, SC 29307
Gasoline Stations with Convenience Stores
NAICS code 447110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Spartanburg
In the Spartanburg area, 5 businesses in the "Gasoline Stations with Convenience Stores" industry received a PPP loan. These local businesses reported an average of 74 employees (compared to this company's 350) and received an average PPP loan of $453,231 (compared to this company's $2.2M).
Similar Nearby Businesses Who Received PPP Funding:
Southern Pride Convenience LLC
Excel Food Mart Inc
DEV Prayag LLC
Industry PPP Comparison Statistics
Nationwide, 45,026 businesses in the "Gasoline Stations with Convenience Stores" industry received a total of $2.06B 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 10 employees, 97% lower than R. L. Jordan Oil Company Of North Carolina, Inc's reported 350 employees, and received an average PPP loan of $45,821, 98% lower than this company's loan of $2.2M.
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Footnotes & Information
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