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PPP Loan Data — Southland Container Corporation, Spartanburg, SC

SBA PPP loan data, payroll data, and salaries for Southland Container Corporation
SC

Southland Container Corporation

Entity: Subchapter S Corporation

Industry: Corrugated and Solid Fiber Box Manufacturing

Location: Spartanburg, SC

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Southland Container Corporation is a subchapter s corporation located at 60 Fairview Church Road in Spartanburg, South Carolina that received a Coronavirus-related PPP loan from the SBA of $2,458,087.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.46M

Jobs Retained:

285

Loan Approved:

2020-04-29

Lender:

BANK OF AMERICA, NATIONAL ASSOCIATION

Southland Container Corporation received a Paycheck Protection Loan of $2.46M through BANK OF AMERICA, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Southland Container Corporation's total 2019 payroll expenses were approximately $11.8M in order to qualify for the PPP loan amount received.

Based on their reported 285 jobs retained, this equals an estimated average yearly compensation of $41,399 per employee1.

Because the loan received by Southland Container Corporation 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 - Southland Container Corporation in Spartanburg, SC

Southland Container Corporation
60 Fairview Church Road
Spartanburg, SC 29303

Business Industry

Corrugated and Solid Fiber Box Manufacturing (NAICS code 322211)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: SC-04

Similar Companies near Spartanburg

In the Spartanburg area, 2 businesses in the "Corrugated and Solid Fiber Box Manufacturing" industry received a PPP loan. These local businesses reported an average of 193 employees (compared to this company's 285) and received an average PPP loan of $2,030,829 (compared to this company's $2.46M).

Similar Nearby Businesses Who Received PPP Funding:

Concept Management Corporation
Spartanburg, SC

$1.6M PPP Loan

Industry PPP Comparison Statistics

Nationwide, 520 businesses in the "Corrugated and Solid Fiber Box Manufacturing" industry received a total of $288,157,321.00 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 43 employees, 85% lower than Southland Container Corporation's reported 285 employees, and received an average PPP loan of $554,149, 77% lower than this company's loan of $2.46M.

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.

Search FederalPay's Full PPP Loan Database

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/southland-container-corporation-spartanburg-sc