PPP Loan Data — Stevens Towing Co., Inc, Hollywood, SC
Stevens Towing Co., Inc is a corporation located at 4170 Highway 165 in Hollywood, South Carolina that received a Coronavirus-related PPP loan from the SBA of $2,403,590.00 in April, 2020.
The company has reported itself as a White male veteran owned business, and employed at least 165 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:South State Bank, National Association
Stevens Towing Co., Inc in Hollywood, SC received a Paycheck Protection Loan of $2.4M through South State Bank, National Association, which was approved in April, 2020.
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, Stevens Towing Co., Inc's 2019 payroll expenses are estimated to be at least $11.54M.
Based on their reported 165 jobs retained, this equals an estimated average yearly compensation of $69,923 per employee1
Reported PPP Proceed Usage:
On the PPP application, Stevens Towing Co., Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,403,590
Business Information - Stevens Towing Co., Inc in Hollywood, SC
4170 Highway 165
Hollywood, SC 29449
Navigational Services to Shipping
NAICS code 488330
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 809 businesses in the "Navigational Services to Shipping" industry received a total of $104.73M 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 Stevens Towing Co., Inc's reported 165 employees, and received an average PPP loan of $129,459, 95% lower than this company's loan of $2.4M.
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Footnotes & Information
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