PPP Loan Data — Civil Works Contracting LLC, Wilmington, NC
Civil Works Contracting LLC is a limited liability company (LLC) located at 190 Raleigh St in Wilmington, North Carolina that received a Coronavirus-related PPP loan from the SBA of $1,593,600.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Truist Bank d/b/a Branch Banking & Trust Co
Civil Works Contracting LLC in Wilmington, NC received a Paycheck Protection Loan of $1.59M through Truist Bank d/b/a Branch Banking & Trust Co, 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
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, Civil Works Contracting LLC's 2019 payroll expenses are estimated to be at least $7.65M.
Based on their reported 103 jobs retained, this equals an estimated average yearly compensation of $74,265 per employee1
Reported PPP Proceed Usage:
On the PPP application, Civil Works Contracting LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,593,600
Business Information - Civil Works Contracting LLC in Wilmington, NC
190 Raleigh St
Wilmington, NC 28412
Other Heavy and Civil Engineering Construction
NAICS code 237990
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Wilmington
In the Wilmington area, 4 businesses in the "Other Heavy and Civil Engineering Construction" industry received a PPP loan. These local businesses reported an average of 39 employees (compared to this company's 103) and received an average PPP loan of $498,987 (compared to this company's $1.59M).
Similar Nearby Businesses Who Received PPP Funding:
H & K Marine Contracting, Inc
274 Construction Group, Inc
Industry PPP Comparison Statistics
Nationwide, 11,233 businesses in the "Other Heavy and Civil Engineering Construction" industry received a total of $2.63B 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 17 employees, 83% lower than Civil Works Contracting LLC's reported 103 employees, and received an average PPP loan of $234,414, 85% lower than this company's loan of $1.59M.
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Footnotes & Information
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