PPP Loan Data — Sutton Industrial Maintenance & Piping I, Louisburg, NC
Sutton Industrial Maintenance & Piping I is a corporation located at 69 Sunshine Lane in Louisburg, North Carolina that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Wells Fargo Bank, National Association
Sutton Industrial Maintenance & Piping I in Louisburg, NC received a Paycheck Protection Loan of $25,000 through Wells Fargo Bank, National Association, which was approved in May, 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 April, 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, Sutton Industrial Maintenance & Piping I's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Sutton Industrial Maintenance & Piping I reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Sutton Industrial Maintenance & Piping I in Louisburg, NC
69 Sunshine Lane
Louisburg, NC 27549
NAICS code 561720
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Louisburg
In the Louisburg area, 5 businesses in the "Janitorial Services" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 4) and received an average PPP loan of $18,778 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 146,067 businesses in the "Janitorial Services" industry received a total of $4.43B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 5 employees, 25% higher than Sutton Industrial Maintenance & Piping I's reported 4 employees, and received an average PPP loan of $30,311, 21% higher than this company's loan of $25,000.
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Footnotes & Information
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