LONE ROCK LOGGING COMPANY INC.
PPP Loan approved Mar 12, 2021 through Umpqua Bank
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $998,402.00 | 100.0% |
About This Loan
LONE ROCK LOGGING COMPANY INC. received a PPP loan of $998,402 approved on Mar 12, 2021. The loan was originated by Umpqua Bank.
LONE ROCK LOGGING COMPANY INC. is a corporation located in ROSEBURG, Oregon. At the time of the application, the business was described as "existing or more than 2 years old".
The business operates in the Agriculture, Forestry, Fishing and Hunting industry (NAICS 113110), part of the Agriculture, Forestry, Fishing and Hunting sector of the economy. The applicant reported 60 jobs as retained through this loan.
The SBA forgave $1,006,361.86 of this loan — 100.8% of the total approved amount, with forgiveness recorded on Jan 5, 2022. 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: $998,402 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 Oregon, visit the Oregon page. To compare this loan with others in the same industry, see the Agriculture, Forestry, Fishing and Hunting industry page.