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PPP Loan Data — Southland Steel Fabricators Inc, Greensburg, LA

SBA PPP loan data, payroll data, and salaries for Southland Steel Fabricators Inc
LA

Southland Steel Fabricators Inc

Entity: Corporation

Industry: Paint and Coating Manufacturing

Location: Greensburg, LA

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Southland Steel Fabricators Inc is a corporation located at 251 Greensburg St in Greensburg, Louisiana that received a Coronavirus-related PPP loan from the SBA of $2,515,286.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.52M

Jobs Retained:

250

Loan Approved:

2020-04-10

Lender:

FIRST GUARANTY BANK

Southland Steel Fabricators Inc received a Paycheck Protection Loan of $2.52M through FIRST GUARANTY BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Southland Steel Fabricators Inc's total 2019 payroll expenses were approximately $12.07M 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 $48,293 per employee1.

Because the loan received by Southland Steel Fabricators Inc 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 Steel Fabricators Inc in Greensburg, LA

Southland Steel Fabricators Inc
251 Greensburg St
Greensburg, LA 70441

Business Industry

Paint and Coating Manufacturing (NAICS code 325510)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: LA-06

Industry PPP Comparison Statistics

Nationwide, 1,048 businesses in the "Paint and Coating Manufacturing" industry received a total of $271,012,887.00 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 18 employees, 93% lower than Southland Steel Fabricators Inc's reported 250 employees, and received an average PPP loan of $258,600, 90% lower than this company's loan of $2.52M.

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.

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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/southland-steel-fabricators-inc-greensburg-la