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PPP Loan Data — Angelo Iafrate Construction Company,
Warren, MI
Angelo Iafrate Construction Company
Entity: Corporation
Industry: Highway, Street, and Bridge Construction
Location: Warren, MI
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Angelo Iafrate Construction Company is a corporation located at 26300 Sherwood in Warren, Michigan that received a Coronavirus-related PPP loan from the SBA of $6,173,412.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
300Loan Approved:
2020-04-09Lender:
JPMORGAN CHASE BANK, NATIONAL ASSOCIATIONAngelo Iafrate Construction Company received a Paycheck Protection Loan of $6.17M through JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Angelo Iafrate Construction Company's total 2019 payroll expenses were approximately $29.63M in order to qualify for the PPP loan amount received.
Based on their reported 300 jobs retained, this equals an estimated average yearly compensation of $98,775 per employee1.
Business Information - Angelo Iafrate Construction Company in Warren, MI
26300 Sherwood
Warren, MI 48091
Business Industry
Highway, Street, and Bridge Construction (NAICS code 237310)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: MI-09Similar Companies near Warren
In the Warren area, 4 businesses in the "Highway, Street, and Bridge Construction" industry received a PPP loan. These local businesses reported an average of 121 employees (compared to this company's 300) and received an average PPP loan of $1,968,931 (compared to this company's $6.17M).
Similar Nearby Businesses Who Received PPP Funding:
T Square Construction Inc
Warren, MI
Zuniga Cement Construction, Inc.
Warren, MI
Hutch Paving, Incorporated
Warren, MI
Industry PPP Comparison Statistics
Nationwide, 7,070 businesses in the "Highway, Street, and Bridge Construction" industry received a total of $2,867,987,409.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 26 employees, 91% lower than Angelo Iafrate Construction Company's reported 300 employees, and received an average PPP loan of $405,656, 93% lower than this company's loan of $6.17M.
FederalPay's PPP Information Policy
Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.
All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA.
Footnotes & Information
1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.
2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.
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