PPP Loan Data — Sally Ann Coal Company, Bluefield, WV
Sally Ann Coal Company is a corporation located at 4030 Williams St in Bluefield, West Virginia that received a Coronavirus-related PPP loan from the SBA of $277,181.00 in April, 2020.
The company has reported itself as a White male veteran owned business, and employed at least fourteen people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:New Peoples Bank, Inc.
Sally Ann Coal Company in Bluefield, WV received a Paycheck Protection Loan of $277,181 through New Peoples Bank, Inc., 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 May, 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, Sally Ann Coal Company's 2019 payroll expenses are estimated to be at least $1.33M.
Based on their reported 14 jobs retained, this equals an estimated average yearly compensation of $95,034 per employee1
Reported PPP Proceed Usage:
On the PPP application, Sally Ann Coal Company reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $277,181
Business Information - Sally Ann Coal Company in Bluefield, WV
4030 Williams St
Bluefield, WV 24701
Bituminous Coal Underground Mining
NAICS code 212112
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Similar Companies near Bluefield
In the Bluefield area, 4 businesses in the "Bituminous Coal Underground Mining" industry received a PPP loan. These local businesses reported an average of 11 employees (compared to this company's 14) and received an average PPP loan of $154,085 (compared to this company's $277,181).
Similar Nearby Businesses Who Received PPP Funding:
GME Mining & Reclamation Inc
Sibley Energy, LLC
Superior Processing, Inc
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, 221% higher than Sally Ann Coal Company's reported 14 employees, and received an average PPP loan of $801,906, 189% higher than this company's loan of $277,181.
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Footnotes & Information
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