SOUTHLAND INSULATORS OF DE, LLC

SOUTHLAND INSULATORS OF DE, LLC received a PPP loan of $1,166,282 approved on Apr 29, 2020. The loan was originated by Burke and Herbert Bank and Trust Company.

SOUTHLAND INSULATORS OF DE, LLC is a limited liability company(llc) located in GEORGETOWN, Delaware. At the time of the application, the business was described as "existing or more than 2 years old".

The business operates in the Building Finishing Contractors industry (NAICS 238310), part of the Construction sector of the economy. The applicant reported 89 jobs as retained through this loan.

The SBA forgave $1,178,398.37 of this loan — 101.0% of the total approved amount, with forgiveness recorded on May 21, 2021. This means the borrower was not required to repay this portion, having satisfied the PPP's eligibility criteria for forgiveness, including maintaining payroll levels and using the funds for qualified expenses.

According to the SBA's records, the proceeds of this loan were allocated as follows: $1,166,282 to payroll. The payroll component represents 100.0% of disclosed proceeds, consistent with the program's requirement that at least 60% of loan funds be used for payroll costs to qualify for full forgiveness.

This loan is one of millions approved nationwide during the COVID-19 pandemic. To explore other recipients in Delaware, visit the Delaware page. To compare this loan with others in the same industry, see the Building Finishing Contractors industry page.