PPP Loan Data — Southeastern Timber Products, LLC, Jackson, MS
Southeastern Timber Products, LLC is a limited liability company (LLC) located at P.o. Box 5327 in Jackson, Mississippi that received a Coronavirus-related PPP loan from the SBA of $1,567,700.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First Commercial Bank
Southeastern Timber Products, LLC in Jackson, MS received a Paycheck Protection Loan of $1.57M through First Commercial Bank, 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, Southeastern Timber Products, LLC's 2019 payroll expenses are estimated to be at least $7.52M.
Based on their reported 161 jobs retained, this equals an estimated average yearly compensation of $46,739 per employee1
Reported PPP Proceed Usage:
On the PPP application, Southeastern Timber Products, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,331,035
- Utilities: $200,224
- Rent: $36,441
Business Information - Southeastern Timber Products, LLC in Jackson, MS
P.o. Box 5327
Jackson, MS 39211
Timber Tract Operations
NAICS code 113110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Jackson
In the Jackson area, 2 businesses in the "Timber Tract Operations" industry received a PPP loan. These local businesses reported an average of 81 employees (compared to this company's 161) and received an average PPP loan of $785,283 (compared to this company's $1.57M).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 3,335 businesses in the "Timber Tract Operations" industry received a total of $179.51M 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 6 employees, 96% lower than Southeastern Timber Products, LLC's reported 161 employees, and received an average PPP loan of $53,826, 97% lower than this company's loan of $1.57M.
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Footnotes & Information
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