PPP Loan Data — The Sterling Lumber And Investment Company, Westminster, CO
The Sterling Lumber And Investment Company
Location: Westminster, COTweet This • Search All PPP Data
The Sterling Lumber And Investment Company is a corporation located at 9101 Harlan St Ste 300 in Westminster, Colorado that received a Coronavirus-related PPP loan from the SBA of $1,967,600.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
The Sterling Lumber And Investment Company in Westminster, CO received a Paycheck Protection Loan of $1.97M through Independent 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, The Sterling Lumber And Investment Company's 2019 payroll expenses are estimated to be at least $9.44M.
Based on their reported 173 jobs retained, this equals an estimated average yearly compensation of $54,592 per employee1
Reported PPP Proceed Usage:
On the PPP application, The Sterling Lumber And Investment Company reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,307,257
- Utilities: $22,268
- Rent: $12,700
- Health Care: $625,375
Business Information - The Sterling Lumber And Investment Company in Westminster, CO
9101 Harlan St Ste 300
Westminster, CO 80031
Lumber, Plywood, Millwork, and Wood Panel Merchant Wholesalers
NAICS code 423310
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 5,326 businesses in the "Lumber, Plywood, Millwork, and Wood Panel Merchant Wholesalers" industry received a total of $1.04B 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 18 employees, 90% lower than The Sterling Lumber And Investment Company's reported 173 employees, and received an average PPP loan of $194,849, 90% lower than this company's loan of $1.97M.
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Footnotes & Information
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