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PPP Loan Data — Banks Construction Company, North Charleston, SC

SBA PPP loan data, payroll data, and salaries for Banks Construction Company
SC

Banks Construction Company

Entity: Subchapter S Corporation

Industry: Highway, Street, and Bridge Construction

Location: North Charleston, SC

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Banks Construction Company is a subchapter s corporation located at 4902 Banco Rd in North Charleston, South Carolina that received a Coronavirus-related PPP loan from the SBA of $3,655,802.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.66M

Jobs Retained:

275

Loan Approved:

2020-04-14

Lender:

SOUTH STATE BANK, NATIONAL ASSOCIATION

Banks Construction Company in North Charleston, SC received a Paycheck Protection Loan of $3.66M through SOUTH STATE BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Banks Construction Company's total 2019 payroll expenses were approximately $17.55M in order to qualify for the PPP loan amount received.

Based on their reported 275 jobs retained, this equals an estimated average yearly compensation of $63,810 per employee1.

Because the loan received by Banks Construction Company is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Banks Construction Company in North Charleston, SC

Banks Construction Company
4902 Banco Rd
North Charleston, SC 29418

Business Industry

Highway, Street, and Bridge Construction (NAICS code 237310)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: SC-06

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 Banks Construction Company's reported 275 employees, and received an average PPP loan of $405,656, 89% lower than this company's loan of $3.66M.

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, and is published unmodified, as provided by the SBA.

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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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/banks-construction-company-north-charleston-sc