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PPP Loan Data — Southern Pump And Tank Company, LLC, Charlotte, NC

SBA PPP loan data, payroll data, and salaries for Southern Pump And Tank Company, LLC
NC

Southern Pump And Tank Company, LLC

Entity: Limited Liability Company (LLC)

Industry: Industrial Machinery and Equipment Merchant Wholesalers

Location: Charlotte, NC

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Southern Pump And Tank Company, LLC is a limited liability company (LLC) located at 8303 University Executive Park Drive in Charlotte, North Carolina that received a Coronavirus-related PPP loan from the SBA of $5,100,000.00 in April, 2020.

The company has reported itself as a White owned business, and employed at least 250 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$5.1M

Jobs Retained:

250

Loan Approved:

2020-04-09

Lender:

THE BANCORP BANK

Southern Pump And Tank Company, LLC in Charlotte, NC received a Paycheck Protection Loan of $5.1M through THE BANCORP BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Southern Pump And Tank Company, LLC's total 2019 payroll expenses were approximately $24.48M in order to qualify for the PPP loan amount received.

Based on their reported 250 jobs retained, this equals an estimated average yearly compensation of $97,920 per employee1.

Because the loan received by Southern Pump And Tank Company, 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 - Southern Pump And Tank Company, LLC in Charlotte, NC

Southern Pump And Tank Company, LLC
8303 University Executive Park Drive
Charlotte, NC 28262

Business Industry

Industrial Machinery and Equipment Merchant Wholesalers (NAICS code 423830)

Business Owner Demographics

Race / Ethnicity: WHITE

Gender: Unreported

Veteran Status: NON-VETERAN

Congressional District: NC-12

Industry PPP Comparison Statistics

Nationwide, 7,320 businesses in the "Industrial Machinery and Equipment Merchant Wholesalers" industry received a total of $1,713,685,837.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 15 employees, 94% lower than Southern Pump And Tank Company, LLC's reported 250 employees, and received an average PPP loan of $234,110, 95% lower than this company's loan of $5.1M.

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, and is published unmodified, as provided by the SBA.

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Footnotes & Information

1. 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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/southern-pump-and-tank-company-llc-charlotte-nc