PPP Loan Data — Circle T Construction, Inc, Farmington, UT
Circle T Construction, Inc
Entity: Subchapter S Corporation
Location: Farmington, UTTweet This • Search All PPP Data
Circle T Construction, Inc is a subchapter s corporation located at 418 South 650 West in Farmington, Utah that received a Coronavirus-related PPP loan from the SBA of $24,900.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Zions Bank, A Division of
Circle T Construction, Inc in Farmington, UT received a Paycheck Protection Loan of $24,900 through Zions Bank, A Division of, 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 December, 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, Circle T Construction, Inc's 2019 payroll expenses are estimated to be at least $119,520.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $39,840 per employee1
Reported PPP Proceed Usage:
On the PPP application, Circle T Construction, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,900
Business Information - Circle T Construction, Inc in Farmington, UT
418 South 650 West
Farmington, UT 84025
New Single-Family Housing Construction (except For-Sale Builders)
NAICS code 236115
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Farmington
In the Farmington area, 10 businesses in the "New Single-Family Housing Construction (except For-Sale Builders)" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 3) and received an average PPP loan of $58,353 (compared to this company's $24,900).
Similar Nearby Businesses Who Received PPP Funding:
Pine Tree Construction, LLC
Imprint Builders LLC
Murri Construction Inc
Salmon & Sons Construction LLC
A D Johnson Remodeling
Elite Craft Homes LLC
Industry PPP Comparison Statistics
Nationwide, 127,156 businesses in the "New Single-Family Housing Construction (except For-Sale Builders)" industry received a total of $5.75B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 5 employees, 67% higher than Circle T Construction, Inc's reported 3 employees, and received an average PPP loan of $45,182, 81% higher than this company's loan of $24,900.
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Footnotes & Information
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