PPP Loan Data — Simply Southern Holdings, LLC, Greensboro, NC
Simply Southern Holdings, LLC
Entity: Limited Liability Company (LLC)
Location: Greensboro, NCTweet This • Search All PPP Data
Simply Southern Holdings, LLC is a limited liability company (LLC) located at 498 Gallimore Dairy Rd in Greensboro, North Carolina that received a Coronavirus-related PPP loan from the SBA of $2,093,427.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
Simply Southern Holdings, LLC in Greensboro, NC received a Paycheck Protection Loan of $2.09M through Bank of America, National Association, which was approved in May, 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, Simply Southern Holdings, LLC's 2019 payroll expenses are estimated to be at least $10.05M.
Based on their reported 315 jobs retained, this equals an estimated average yearly compensation of $31,900 per employee1
Reported PPP Proceed Usage:
On the PPP application, Simply Southern Holdings, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,093,427
Business Information - Simply Southern Holdings, LLC in Greensboro, NC
498 Gallimore Dairy Rd
Greensboro, NC 27409
Men's and Boys' Clothing and Furnishings Merchant Wholesalers
NAICS code 424320
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Greensboro
In the Greensboro area, 5 businesses in the "Men's and Boys' Clothing and Furnishings Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 69 employees (compared to this company's 315) and received an average PPP loan of $447,053 (compared to this company's $2.09M).
Similar Nearby Businesses Who Received PPP Funding:
Silver Gallery Intl Inc
Sew What Embrodiery Inc
Industry PPP Comparison Statistics
Nationwide, 8,559 businesses in the "Men's and Boys' Clothing and Furnishings Merchant Wholesalers" industry received a total of $362.36M 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 4 employees, 99% lower than Simply Southern Holdings, LLC's reported 315 employees, and received an average PPP loan of $42,336, 98% lower than this company's loan of $2.09M.
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Footnotes & Information
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