PPP Loan Data — Southeast Industrial Equipment Inc, Charlotte, NC
Southeast Industrial Equipment Inc
Location: Charlotte, NCTweet This • Search All PPP Data
Southeast Industrial Equipment Inc is a corporation located at 12200 Steele Creek Rd in Charlotte, North Carolina that received a Coronavirus-related PPP loan from the SBA of $5,281,800.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First-Citizens Bank & Trust Company
Southeast Industrial Equipment Inc in Charlotte, NC received a Paycheck Protection Loan of $5.28M through First-Citizens Bank & Trust Company, 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, Southeast Industrial Equipment Inc's 2019 payroll expenses are estimated to be at least $25.35M.
Based on their reported 403 jobs retained, this equals an estimated average yearly compensation of $62,910 per employee1
Reported PPP Proceed Usage:
On the PPP application, Southeast Industrial Equipment Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $5,281,800
Business Information - Southeast Industrial Equipment Inc in Charlotte, NC
12200 Steele Creek Rd
Charlotte, NC 28273
Industrial Machinery and Equipment Merchant Wholesalers
NAICS code 423830
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Charlotte
In the Charlotte area, 21 businesses in the "Industrial Machinery and Equipment Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 67 employees (compared to this company's 403) and received an average PPP loan of $935,924 (compared to this company's $5.28M).
Similar Nearby Businesses Who Received PPP Funding:
Atlas Converting North America Inc
Carolina Industrial Trucks, Incorporated
Yale Carolinas Inc
Single Temperature Controls Inc
Betek Tools, Inc
Bonomi North America Inc
Efco USA Inc
HC Forklift America Corporation
Hyde Park Partners Inc
Industry PPP Comparison Statistics
Nationwide, 11,076 businesses in the "Industrial Machinery and Equipment Merchant Wholesalers" industry received a total of $2.24B 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 15 employees, 96% lower than Southeast Industrial Equipment Inc's reported 403 employees, and received an average PPP loan of $202,534, 96% lower than this company's loan of $5.28M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!