PPP Loan Data — Southport Engineered Systems, LLC, Caledonia, WI
Southport Engineered Systems, LLC
Entity: Limited Liability Company (LLC)
Location: Caledonia, WITweet This • Search All PPP Data
Southport Engineered Systems, LLC is a limited liability company (LLC) located at 1343 S 27 Street in Caledonia, Wisconsin that received a Coronavirus-related PPP loan from the SBA of $2,222,300.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First American Bank
Southport Engineered Systems, LLC in Caledonia, WI received a Paycheck Protection Loan of $2.22M through First American Bank, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in May, 2021.
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, Southport Engineered Systems, LLC's 2019 payroll expenses are estimated to be at least $10.67M.
Based on their reported 179 jobs retained, this equals an estimated average yearly compensation of $59,592 per employee1
Reported PPP Proceed Usage:
On the PPP application, Southport Engineered Systems, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,222,300
Business Information - Southport Engineered Systems, LLC in Caledonia, WI
1343 S 27 Street
Caledonia, WI 53108
Plumbing, Heating, and Air-Conditioning Contractors
NAICS code 238220
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Caledonia
In the Caledonia area, 3 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a PPP loan. These local businesses reported an average of 63 employees (compared to this company's 179) and received an average PPP loan of $771,800 (compared to this company's $2.22M).
Similar Nearby Businesses Who Received PPP Funding:
Dechamps Plumbing LLC
Plugged Pipes LLC
Industry PPP Comparison Statistics
Nationwide, 105,811 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a total of $13.07B 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 10 employees, 94% lower than Southport Engineered Systems, LLC's reported 179 employees, and received an average PPP loan of $123,520, 94% lower than this company's loan of $2.22M.
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Footnotes & Information
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