PPP Loan Data — UST, Inc, Mount Pleasant, TN
Location: Mount Pleasant, TNTweet This • Search All PPP Data
UST, Inc is a corporation located at 1427 North Main Street in Mount Pleasant, Tennessee that received a Coronavirus-related PPP loan from the SBA of $1,780,753.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First Horizon Bank
UST, Inc in Mount Pleasant, TN received a Paycheck Protection Loan of $1.78M through First Horizon Bank, 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, UST, Inc's 2019 payroll expenses are estimated to be at least $8.55M.
Based on their reported 210 jobs retained, this equals an estimated average yearly compensation of $40,703 per employee1
Reported PPP Proceed Usage:
On the PPP application, UST, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,430,753
- Utilities: $350,000
Business Information - UST, Inc in Mount Pleasant, TN
1427 North Main Street
Mount Pleasant, TN 38474
Clay Building Material and Refractories Manufacturing
NAICS code 327120
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 376 businesses in the "Clay Building Material and Refractories Manufacturing" industry received a total of $142.94M 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 33 employees, 84% lower than UST, Inc's reported 210 employees, and received an average PPP loan of $380,169, 79% lower than this company's loan of $1.78M.
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Footnotes & Information
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