SUN INDUSTRIAL GROUP LLC
PPP Loan approved Apr 8, 2020 through Cadence Bank
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $8,029,100.00 | 97.6% |
| Utilities | $5,200.00 | 0.1% |
| Rent / Lease | $196,200.00 | 2.4% |
About This Loan
SUN INDUSTRIAL GROUP LLC received a PPP loan of $8,230,500 approved on Apr 8, 2020. The loan was originated by Cadence Bank.
SUN INDUSTRIAL GROUP LLC is a limited liability company(llc) located in LAKE CHARLES, Louisiana. At the time of the application, the business was described as "existing or more than 2 years old".
The business operates in the Other Heavy and Civil Engineering Construction industry (NAICS 237990), part of the Construction sector of the economy. The applicant reported 60 jobs as retained through this loan.
The SBA forgave $8,319,206.50 of this loan — 101.1% of the total approved amount, with forgiveness recorded on Jun 11, 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: $8,029,100 to payroll, $5,200 to utilities, $196,200 to rent or lease obligations. The payroll component represents 97.6% 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 Louisiana, visit the Louisiana page. To compare this loan with others in the same industry, see the Other Heavy and Civil Engineering Construction industry page.