PPP Loan Data — Southeastern Land, LLC, Debord, KY

Southeastern Land, LLC

Entity: Limited Liability Company (LLC)

Industry: Bituminous Coal and Lignite Surface Mining

Location: Debord, KY

Southeastern Land, LLC is a limited liability company (LLC) located at 81 Enterprise Dr in Debord, Kentucky that received a Coronavirus-related PPP loan from the SBA of $6,471,900.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 453 people during the applicable loan loan period.

$ PPP Loan Information
Loan #5656007000

Loan Size:

$6.47M

Jobs Retained:

453

Loan Approved:

2020-04-06

Loan Status:

Charged Off

Lender:

Central Bank & Trust Co.

Southeastern Land, LLC in Debord, KY received a Paycheck Protection Loan of $6.47M through Central Bank & Trust Co., which was approved in April, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA. The loan's status was last updated by the SBA in August, 2022.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

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, Southeastern Land, LLC's 2019 payroll expenses are estimated to be at least $31.07M.

Based on their reported 453 jobs retained, this equals an estimated average yearly compensation of $68,576 per employee¹

Reported PPP Proceed Usage:

On the PPP application, Southeastern Land, LLC reported intending to use the proceeds of their PPP loan for the following expenses:

Payroll: $6,471,900

Because the loan received by Southeastern Land, LLC 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 - Southeastern Land, LLC in Debord, KY

Southeastern Land, LLC
81 Enterprise Dr
Debord, KY 41214

Business Industry:
Bituminous Coal and Lignite Surface Mining
NAICS code 212111

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Male Owned

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: Y

Rural / Urban: Rural

Martin County, KY — SBA Office 0457 — Congressional District: KY-05

Businesses Using Same Address:

There are 5 other businesses that received a PPP loan registered to the same address as Southeastern Land, LLC.

Azalea Hall, Inc
Home Centers

$31,800 PPP Loan

Coal Dispatchers Inc
Security Guards and Patrol Services

$68,500 PPP Loan

C&B Construction Company, LLC
Industrial Building Construction

$140,900 PPP Loan

The Elite Agency Inc
Insurance Agencies and Brokerages

$311,500 PPP Loan

Interstate Lodging. Inc
Hotels (except Casino Hotels) and Motels

$323,200 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 237 businesses in the "Bituminous Coal and Lignite Surface Mining" industry received a total of $143.21M 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 38 employees, 92% lower than Southeastern Land, LLC's reported 453 employees, and received an average PPP loan of $604,257, 91% lower than this company's loan of $6.47M.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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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