PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Stat Inc, Lenoir, NC

ALERT: There are 2 PPP loans for a total of $3.87M in our database for businesses with the name "Stat Inc" in Lenoir, NC. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Stat Inc
NC

Stat Inc

Entity: Corporation

Industry: All Other Miscellaneous Waste Management Services

Location: Lenoir, NC

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Stat Inc is a corporation located at 2550 Hwy 321 Sw in Lenoir, North Carolina that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in March, 2021.

The company has reported itself as a female owned business, and employed at least 150 people during the applicable loan loan period.

$ PPP Loan Information
Loan #1535458607

Loan Size:

$2M

Jobs Retained:

150

Loan Approved:

2021-03-13

Loan Status:

Active Un-Disbursed

Lender:

Aquesta Bank
PPP Funds Undisbursed

Stat Inc in Lenoir, NC received a Paycheck Protection Loan of $2M through Aquesta Bank, which was approved in March, 2021.

While this loan has been approved by the Small Business Administration, the lender has not reported to the SBA that the loan funds were disbursed to the borrower. According to SBA records, a total of $2M in approved PPP funding has not been disbursed. The loan's status was last updated by the SBA in March, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Stat Inc's 2019 payroll expenses are estimated to be at least $9.6M.

Based on their reported 150 jobs retained, this equals an estimated average yearly compensation of $64,000 per employee1

Reported PPP Proceed Usage:

On the PPP application, Stat Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,999,997
  • Utilities: $1
Because the loan received by Stat 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 - Stat Inc in Lenoir, NC

Stat Inc
2550 Hwy 321 Sw
Lenoir, NC 28645

Business Industry:
All Other Miscellaneous Waste Management Services
NAICS code 562998

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Female Owned

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Rural

Caldwell County, NC — SBA Office 0460 — Congressional District: NC-11

Industry PPP Comparison Statistics

Nationwide, 3,075 businesses in the "All Other Miscellaneous Waste Management Services" industry received a total of $304.78M 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, 93% lower than Stat Inc's reported 150 employees, and received an average PPP loan of $99,115, 95% lower than this company's loan of $2M.

SBA PPP loan data, payroll data, and salaries for Stat, Inc
NC

Stat, Inc

Entity: Corporation

Industry: All Other Miscellaneous Waste Management Services

Location: Lenoir, NC

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Stat, Inc is a corporation located at 2550 Hickory Blvd in Lenoir, North Carolina that received a Coronavirus-related PPP loan from the SBA of $1,865,100.00 in April, 2020.

The company has reported itself as a female owned business, and employed at least 135 people during the applicable loan loan period.

$ PPP Loan Information
Loan #6323627103

Loan Size:

$1.87M

Jobs Retained:

135

Loan Approved:

2020-04-14

Loan Status:

Ongoing Loan

Lender:

Aquesta Bank

Stat, Inc in Lenoir, NC received a Paycheck Protection Loan of $1.87M through Aquesta Bank, which was approved in April, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Stat, Inc's 2019 payroll expenses are estimated to be at least $8.95M.

Based on their reported 135 jobs retained, this equals an estimated average yearly compensation of $66,315 per employee1

Reported PPP Proceed Usage:

On the PPP application, Stat, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,865,100

Business Information - Stat, Inc in Lenoir, NC

Stat, Inc
2550 Hickory Blvd
Lenoir, NC 28645

Business Industry:
All Other Miscellaneous Waste Management Services
NAICS code 562998

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Female Owned

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: Y

Rural / Urban: Rural

Caldwell County, NC — SBA Office 0460 — Congressional District: NC-05

Industry PPP Comparison Statistics

Nationwide, 3,075 businesses in the "All Other Miscellaneous Waste Management Services" industry received a total of $304.78M 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, 93% lower than Stat, Inc's reported 135 employees, and received an average PPP loan of $99,115, 95% lower than this company's loan of $1.87M.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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/stat-inc-lenoir-nc