PPP Loan Data — Carbide Excavating Co, Brecksville, OH
Carbide Excavating Co is a subchapter s corporation located at 2945 Boston Mills Rd in Brecksville, Ohio that received a Coronavirus-related PPP loan from the SBA of $46,500.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:PNC Bank, National Association
Carbide Excavating Co in Brecksville, OH received a Paycheck Protection Loan of $46,500 through PNC Bank, National Association, which was approved in May, 2020.
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, Carbide Excavating Co's 2019 payroll expenses are estimated to be at least $223,200.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $55,800 per employee1
Reported PPP Proceed Usage:
On the PPP application, Carbide Excavating Co reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,500
Business Information - Carbide Excavating Co in Brecksville, OH
2945 Boston Mills Rd
Brecksville, OH 44141
Site Preparation Contractors
NAICS code 238910
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 30,927 businesses in the "Site Preparation Contractors" industry received a total of $4.31B 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, 200% higher than Carbide Excavating Co's reported 4 employees, and received an average PPP loan of $139,293, 200% higher than this company's loan of $46,500.
FederalPay's PPP Information Policy
Footnotes & Information
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