PPP Loan Data — Southeastern Products Inc, Fountain Inn, SC
Southeastern Products Inc
Location: Fountain Inn, SCTweet This • Search All PPP Data
Southeastern Products Inc is a corporation located at 145 Southchase Blvd in Fountain Inn, South Carolina that received a Coronavirus-related PPP loan from the SBA of $1,512,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First-Citizens Bank & Trust Company
Southeastern Products Inc in Fountain Inn, SC received a Paycheck Protection Loan of $1.51M through First-Citizens Bank & Trust Company, 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 April, 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, Southeastern Products Inc's 2019 payroll expenses are estimated to be at least $7.26M.
Based on their reported 133 jobs retained, this equals an estimated average yearly compensation of $54,568 per employee1
Reported PPP Proceed Usage:
On the PPP application, Southeastern Products Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,512,000
Business Information - Southeastern Products Inc in Fountain Inn, SC
145 Southchase Blvd
Fountain Inn, SC 29644
Showcase, Partition, Shelving, and Locker Manufacturing
NAICS code 337215
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 741 businesses in the "Showcase, Partition, Shelving, and Locker Manufacturing" industry received a total of $241.29M 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 29 employees, 78% lower than Southeastern Products Inc's reported 133 employees, and received an average PPP loan of $325,621, 78% lower than this company's loan of $1.51M.
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Footnotes & Information
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