PPP Loan Data — Walterboro Rental & Equipment Center, Inc, Walterboro, SC
Walterboro Rental & Equipment Center, Inc is a corporation located at 2754 Robertson Blvd in Walterboro, South Carolina that received a Coronavirus-related PPP loan from the SBA of $46,565.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least eight people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:South State Bank, National Association
Walterboro Rental & Equipment Center, Inc in Walterboro, SC received a Paycheck Protection Loan of $46,565 through South State Bank, National Association, 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 March, 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, Walterboro Rental & Equipment Center, Inc's 2019 payroll expenses are estimated to be at least $223,512.
Based on their reported 8 jobs retained, this equals an estimated average yearly compensation of $27,939 per employee1
Reported PPP Proceed Usage:
On the PPP application, Walterboro Rental & Equipment Center, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,565
Business Information - Walterboro Rental & Equipment Center, Inc in Walterboro, SC
2754 Robertson Blvd
Walterboro, SC 29488
General Rental Centers
NAICS code 532310
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 2,803 businesses in the "General Rental Centers" industry received a total of $219.08M 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 9 employees, 13% higher than Walterboro Rental & Equipment Center, Inc's reported 8 employees, and received an average PPP loan of $78,158, 68% higher than this company's loan of $46,565.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!