PPP Loan Data — Beitzel Corporation, Grantsville, MD
Beitzel Corporation is a subchapter s corporation located at 333 Corporate Drive in Grantsville, Maryland that received a Coronavirus-related PPP loan from the SBA of $4,614,800.00 in April, 2020.
$ PPP Loan Information
Lender:FIRST UNITED BANK & TRUST
Beitzel Corporation in Grantsville, MD received a Paycheck Protection Loan of $4.61M through FIRST UNITED BANK & TRUST, which was approved in April, 2020.
Based on standard PPP eligibility rules, Beitzel Corporation's total 2019 payroll expenses were approximately $22.15M in order to qualify for the PPP loan amount received.
Based on their reported 281 jobs retained, this equals an estimated average yearly compensation of $78,829 per employee1.
Business Information - Beitzel Corporation in Grantsville, MD
333 Corporate Drive
Grantsville, MD 21536
Site Preparation Contractors (NAICS code 238910)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: MD-06
Similar Companies near Grantsville
In the Grantsville area, 3 businesses in the "Site Preparation Contractors" industry received a PPP loan. These local businesses reported an average of 104 employees (compared to this company's 281) and received an average PPP loan of $2,656,633 (compared to this company's $4.61M).
Similar Nearby Businesses Who Received PPP Funding:
Byco Enterprises, Inc.
Pillar Innovations, LLC
Industry PPP Comparison Statistics
Nationwide, 17,653 businesses in the "Site Preparation Contractors" industry received a total of $2,959,828,729.00 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 12 employees, 96% lower than Beitzel Corporation's reported 281 employees, and received an average PPP loan of $167,667, 96% lower than this company's loan of $4.61M.
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.
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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