PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Bennett Construction Inc, Oklahoma City, OK

ALERT: There are 2 PPP loans for a total of $8.08M in our database for businesses with the name "Bennett Construction Inc" in Oklahoma City, OK. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Bennett Construction Inc
OK

Bennett Construction Inc

Entity: Corporation

Industry: Oil and Gas Pipeline and Related Structures Construction

Location: Oklahoma City, OK

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Bennett Construction Inc is a corporation located at 525 Central Park Dr Ste 402 in Oklahoma City, Oklahoma that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in February, 2021.

The company has reported itself as a male owned business, and employed at least 185 people during the applicable loan loan period.

$ PPP Loan Information
Loan #7484408403

Loan Size:

$2M

Jobs Retained:

185

Loan Approved:

2021-02-12

Loan Status:

Ongoing Loan

Lender:

First National Bank of Weatherford d/b/a First Bank Texas

Bennett Construction Inc in Oklahoma City, OK received a Paycheck Protection Loan of $2M through First National Bank of Weatherford d/b/a First Bank Texas, which was approved in February, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Bennett Construction Inc's 2019 payroll expenses are estimated to be at least $9.6M.

Based on their reported 185 jobs retained, this equals an estimated average yearly compensation of $51,892 per employee1

Reported PPP Proceed Usage:

On the PPP application, Bennett Construction Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,999,995
  • Utilities: $1
Because the loan received by Bennett Construction Inc 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 - Bennett Construction Inc in Oklahoma City, OK

Bennett Construction Inc
525 Central Park Dr Ste 402
Oklahoma City, OK 73105

Business Industry:
Oil and Gas Pipeline and Related Structures Construction
NAICS code 237120

Business Owner Demographics

Race: Unreported

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Oklahoma County, OK — SBA Office 0680 — Congressional District: OK-05

Similar Companies near Oklahoma City

In the Oklahoma City area, 2 businesses in the "Oil and Gas Pipeline and Related Structures Construction" industry received a PPP loan. These local businesses reported an average of 120 employees (compared to this company's 185) and received an average PPP loan of $1,520,144 (compared to this company's $2M).

Similar Nearby Businesses Who Received PPP Funding:

Shamrock Farrell LLC
Oklahoma City, OK

$1.04M PPP Loan

Industry PPP Comparison Statistics

Nationwide, 2,590 businesses in the "Oil and Gas Pipeline and Related Structures Construction" industry received a total of $1.03B 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 26 employees, 86% lower than Bennett Construction Inc's reported 185 employees, and received an average PPP loan of $397,223, 80% lower than this company's loan of $2M.

SBA PPP loan data, payroll data, and salaries for Bennett Construction, Inc
OK

Bennett Construction, Inc

Entity: Corporation

Industry: New Housing For-Sale Builders

Location: Oklahoma City, OK

Search All PPP Data

Bennett Construction, Inc is a corporation located at 525 Central Park Dr in Oklahoma City, Oklahoma that received a Coronavirus-related PPP loan from the SBA of $6,077,500.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 429 people during the applicable loan loan period.

$ PPP Loan Information
Loan #4375577006

Loan Size:

$6.08M

Jobs Retained:

429

Loan Approved:

2020-04-03

Loan Status:

Ongoing Loan

Lender:

First National Bank of Weatherford d/b/a First Bank Texas

Bennett Construction, Inc in Oklahoma City, OK received a Paycheck Protection Loan of $6.08M through First National Bank of Weatherford d/b/a First Bank Texas, which was approved in April, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Bennett Construction, Inc's 2019 payroll expenses are estimated to be at least $29.17M.

Based on their reported 429 jobs retained, this equals an estimated average yearly compensation of $68,000 per employee1

Reported PPP Proceed Usage:

On the PPP application, Bennett Construction, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $6,077,500
Because the loan received by Bennett Construction, Inc 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 - Bennett Construction, Inc in Oklahoma City, OK

Bennett Construction, Inc
525 Central Park Dr
Oklahoma City, OK 73105

Business Industry:
New Housing For-Sale Builders
NAICS code 236117

Business Owner Demographics

Race: Unreported

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: Y

Rural / Urban: Urban

Oklahoma County, OK — SBA Office 0680 — Congressional District: OK-05

Similar Companies near Oklahoma City

In the Oklahoma City area, 3 businesses in the "New Housing For-Sale Builders" industry received a PPP loan. These local businesses reported an average of 144 employees (compared to this company's 429) and received an average PPP loan of $2,035,793 (compared to this company's $6.08M).

Industry PPP Comparison Statistics

Nationwide, 11,742 businesses in the "New Housing For-Sale Builders" industry received a total of $985.88M 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 7 employees, 98% lower than Bennett Construction, Inc's reported 429 employees, and received an average PPP loan of $83,962, 99% lower than this company's loan of $6.08M.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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/bennett-construction-inc-oklahoma-city-ok