PPP Loan Data — Belcastro Commercial Builders, Inglewood, CA
Belcastro Commercial Builders
Location: Inglewood, CATweet This • Search All PPP Data
Belcastro Commercial Builders is a corporation located at 440 Hindry Ave Ste. F in Inglewood, California that received a Coronavirus-related PPP loan from the SBA of $47,133.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Wells Fargo Bank, National Association
Belcastro Commercial Builders in Inglewood, CA received a Paycheck Protection Loan of $47,133 through Wells Fargo Bank, National Association, which was approved in May, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 2. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Belcastro Commercial Builders' 2019 payroll expenses are estimated to be at least $226,238 (not accounting for salary amounts > $100k).
Because the 2 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Belcastro Commercial Builders reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $47,133
Business Information - Belcastro Commercial Builders in Inglewood, CA
440 Hindry Ave Ste. F
Inglewood, CA 90301
Commercial and Institutional Building Construction
NAICS code 236220
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Inglewood
In the Inglewood area, 15 businesses in the "Commercial and Institutional Building Construction" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 2) and received an average PPP loan of $48,544 (compared to this company's $47,133).
Similar Nearby Businesses Who Received PPP Funding:
Jonny Appleseed Landscaping, Inc
N. Ramirez Construction Inc
Larry Brown Construction Co. Inc.,
Build To Sustain Inc. DBA La Green Building
MJ Construction Development Inc
Industry PPP Comparison Statistics
Nationwide, 78,873 businesses in the "Commercial and Institutional Building Construction" industry received a total of $12.41B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 12 employees, 500% higher than Belcastro Commercial Builders' reported 2 employees, and received an average PPP loan of $157,325, 234% higher than this company's loan of $47,133.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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