PPP Loan Data — Williams Logging Inc, Moncure, NC
Williams Logging Inc is a corporation located at 2371 Charlie Brooks Rd in Moncure, North Carolina that received a Coronavirus-related PPP loan from the SBA of $46,300.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:The Fidelity Bank
Williams Logging Inc in Moncure, NC received a Paycheck Protection Loan of $46,300 through The Fidelity 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 December, 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, Williams Logging Inc's 2019 payroll expenses are estimated to be at least $222,240.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $74,080 per employee1
Reported PPP Proceed Usage:
On the PPP application, Williams Logging Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,300
Business Information - Williams Logging Inc in Moncure, NC
2371 Charlie Brooks Rd
Moncure, NC 27559
NAICS code 113310
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 12,498 businesses in the "Logging" industry received a total of $628.53M 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 5 employees, 67% higher than Williams Logging Inc's reported 3 employees, and received an average PPP loan of $50,291, 9% higher than this company's loan of $46,300.
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Footnotes & Information
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