PPP Loan Data — Southern Eagle Distributing, Inc, Fort Pierce, FL
Southern Eagle Distributing, Inc is a subchapter s corporation located at 5300 Glades Cut Off Rd in Fort Pierce, Florida that received a Coronavirus-related PPP loan from the SBA of $2,034,707.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:South State Bank, National Association
Southern Eagle Distributing, Inc in Fort Pierce, FL received a Paycheck Protection Loan of $2.03M through South State Bank, National Association, 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, Southern Eagle Distributing, Inc's 2019 payroll expenses are estimated to be at least $9.77M.
Based on their reported 160 jobs retained, this equals an estimated average yearly compensation of $61,041 per employee1
Reported PPP Proceed Usage:
On the PPP application, Southern Eagle Distributing, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,034,707
Business Information - Southern Eagle Distributing, Inc in Fort Pierce, FL
5300 Glades Cut Off Rd
Fort Pierce, FL 34981
Beer and Ale Merchant Wholesalers
NAICS code 424810
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 1,380 businesses in the "Beer and Ale Merchant Wholesalers" industry received a total of $608.99M 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 40 employees, 75% lower than Southern Eagle Distributing, Inc's reported 160 employees, and received an average PPP loan of $441,295, 78% lower than this company's loan of $2.03M.
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Footnotes & Information
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