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PPP Loan Data — Chipton-Ross Inc,
Scottsdale, AZ
Chipton-Ross Inc
Entity: Corporation
Industry: Engineering Services
Location: Scottsdale, AZ
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Chipton-Ross Inc is a corporation located at 3370 N Hayden Rd Ste 123-510 in Scottsdale, Arizona that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in May, 2021.
The company has reported itself as a female owned business, and employed at least 218 people during the applicable loan loan period.
$
PPP Loan Information
Loan #2680999003
Loan Size:
Jobs Retained:
218Loan Approved:
2021-05-18Loan Status:
Paid in Full or ForgivenLender:
Enterprise Bank & TrustChipton-Ross Inc in Scottsdale, AZ received a Paycheck Protection Loan of $2M through Enterprise Bank & Trust, which was approved in May, 2021.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in August, 2022.
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 MoreUnderstanding 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 MoreBased 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, Chipton-Ross Inc's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 218 jobs retained, this equals an estimated average yearly compensation of $44,037 per employee1
Reported PPP Proceed Usage:
On the PPP application, Chipton-Ross Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,995
- Utilities: $1
Business Information - Chipton-Ross Inc in Scottsdale, AZ
3370 N Hayden Rd Ste 123-510
Scottsdale, AZ 85251
Business Industry:
Engineering Services
NAICS code 541330
Business Owner Demographics
Race: Unreported
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: N
Rural / Urban: Urban
Similar Companies near Scottsdale
In the Scottsdale area, 23 businesses in the "Engineering Services" industry received a PPP loan. These local businesses reported an average of 21 employees (compared to this company's 218) and received an average PPP loan of $292,086 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
PK Associates LLC
Scottsdale, AZ
Energy Systems Design Inc
Scottsdale, AZ
Vertex Consulting Structural Engineers
Scottsdale, AZ
Compass Solutions LLC
Scottsdale, AZ
Francisco Castell
Scottsdale, AZ
Medpro Consulting & Marketing Services
Scottsdale, AZ
Schwan Consulting Se LLC
Scottsdale, AZ
Rudow Berry
Scottsdale, AZ
Industry PPP Comparison Statistics
Nationwide, 46,564 businesses in the "Engineering Services" industry received a total of $9.17B 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 13 employees, 94% lower than Chipton-Ross Inc's reported 218 employees, and received an average PPP loan of $196,985, 90% lower than this company's loan of $2M.
Chipton-Ross, Inc
Entity: Corporation
Industry: Other Foundation, Structure, and Building Exterior Contractors
Location: Scottsdale, AZ
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Chipton-Ross, Inc is a corporation located at 3370 N. Hayden Road, Suite 123-510 in Scottsdale, Arizona that received a Coronavirus-related PPP loan from the SBA of $4,204,118.00 in April, 2020.
The company has reported itself as a female owned business, and employed at least 268 people during the applicable loan loan period.
$
PPP Loan Information
Loan #4253467108
Loan Size:
Jobs Retained:
268Loan Approved:
2020-04-13Loan Status:
Paid in Full or ForgivenLender:
Bank of America, National AssociationChipton-Ross, Inc in Scottsdale, AZ received a Paycheck Protection Loan of $4.2M through Bank of America, National Association, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in November, 2021.
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 MoreUnderstanding 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 MoreBased 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, Chipton-Ross, Inc's 2019 payroll expenses are estimated to be at least $20.18M.
Based on their reported 268 jobs retained, this equals an estimated average yearly compensation of $75,298 per employee1
Reported PPP Proceed Usage:
On the PPP application, Chipton-Ross, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $4,204,118
Business Information - Chipton-Ross, Inc in Scottsdale, AZ
3370 N. Hayden Road, Suite 123-510
Scottsdale, AZ 85251
Business Industry:
Other Foundation, Structure, and Building Exterior Contractors
NAICS code 238190
Business Owner Demographics
Race: Unreported
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: N
Rural / Urban: Urban
Similar Companies near Scottsdale
In the Scottsdale area, 2 businesses in the "Other Foundation, Structure, and Building Exterior Contractors" industry received a PPP loan. These local businesses reported an average of 135 employees (compared to this company's 268) and received an average PPP loan of $2,112,476 (compared to this company's $4.2M).
Similar Nearby Businesses Who Received PPP Funding:
Vickie Ziemer
Scottsdale, AZ
Industry PPP Comparison Statistics
Nationwide, 10,867 businesses in the "Other Foundation, Structure, and Building Exterior Contractors" industry received a total of $850.48M 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, 97% lower than Chipton-Ross, Inc's reported 268 employees, and received an average PPP loan of $78,262, 98% lower than this company's loan of $4.2M.
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.
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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