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PPP Loan Data — Clemens Construction Co. Inc,
Philadelphia, PA
Clemens Construction Co. Inc
Entity: Subchapter S Corporation
Industry: Commercial and Institutional Building Construction
Location: Philadelphia, PA
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Clemens Construction Co. Inc is a subchapter s corporation located at 1435 Walnut St Fl 2 in Philadelphia, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in January, 2021.
The company has reported itself as a male owned business, and employed at least 137 people during the applicable loan loan period.
$
PPP Loan Information
Loan #7587658302
Loan Size:
Jobs Retained:
137Loan Approved:
2021-01-28Loan Status:
Ongoing LoanLender:
Manufacturers and Traders Trust CompanyClemens Construction Co. Inc in Philadelphia, PA received a Paycheck Protection Loan of $2M through Manufacturers and Traders Trust Company, which was approved in January, 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 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, Clemens Construction Co. Inc's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 137 jobs retained, this equals an estimated average yearly compensation of $70,073 per employee1
Reported PPP Proceed Usage:
On the PPP application, Clemens Construction Co. Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,998
- Utilities: $1
Business Information - Clemens Construction Co. Inc in Philadelphia, PA
1435 Walnut St Fl 2
Philadelphia, PA 19102
Business Industry:
Commercial and Institutional Building Construction
NAICS code 236220
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
Similar Companies near Philadelphia
In the Philadelphia area, 22 businesses in the "Commercial and Institutional Building Construction" industry received a PPP loan. These local businesses reported an average of 28 employees (compared to this company's 137) and received an average PPP loan of $436,431 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Space By Spielman Limited
Philadelphia, PA
Fortjoy Development 2 LP
Philadelphia, PA
Joyfer Joint Venture
Philadelphia, PA
Am Construction Inc
Philadelphia, PA
Michael Vahey
Philadelphia, PA
Icon Construction Group LLC
Philadelphia, PA
Oval Project Management
Philadelphia, PA
Becker & Frondorf, Inc
Philadelphia, PA
IBM Construction Management LLC
Philadelphia, PA
Industry PPP Comparison Statistics
Nationwide, 77,396 businesses in the "Commercial and Institutional Building Construction" industry received a total of $12.37B 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, 91% lower than Clemens Construction Co. Inc's reported 137 employees, and received an average PPP loan of $159,889, 92% lower than this company's loan of $2M.
Clemens Construction Co., Inc
Entity: Subchapter S Corporation
Industry: Commercial and Institutional Building Construction
Location: Philadelphia, PA
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Clemens Construction Co., Inc is a subchapter s corporation located at 1435 Walnut Street 2nd Floor in Philadelphia, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $3,256,060.00 in April, 2020.
$
PPP Loan Information
Loan #8539467101
Loan Size:
Jobs Retained:
223Loan Approved:
2020-04-15Loan Status:
Paid in Full or ForgivenLender:
Manufacturers and Traders Trust CompanyClemens Construction Co., Inc in Philadelphia, PA received a Paycheck Protection Loan of $3.26M through Manufacturers and Traders Trust Company, 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 July, 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, Clemens Construction Co., Inc's 2019 payroll expenses are estimated to be at least $15.63M.
Based on their reported 223 jobs retained, this equals an estimated average yearly compensation of $70,086 per employee1
Reported PPP Proceed Usage:
On the PPP application, Clemens Construction Co., Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,750,000
- Utilities: $56,060
- Rent: $100,000
- Health Care: $350,000
Business Information - Clemens Construction Co., Inc in Philadelphia, PA
1435 Walnut Street 2nd Floor
Philadelphia, PA 19102
Business Industry:
Commercial and Institutional Building Construction
NAICS code 236220
Business Owner Demographics
Race: Unreported
Ethnicity: Not Hispanic or Latino
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: Y
Rural / Urban: Urban
Similar Companies near Philadelphia
In the Philadelphia area, 22 businesses in the "Commercial and Institutional Building Construction" industry received a PPP loan. These local businesses reported an average of 28 employees (compared to this company's 223) and received an average PPP loan of $436,431 (compared to this company's $3.26M).
Similar Nearby Businesses Who Received PPP Funding:
Space By Spielman Limited
Philadelphia, PA
Fortjoy Development 2 LP
Philadelphia, PA
Joyfer Joint Venture
Philadelphia, PA
Am Construction Inc
Philadelphia, PA
Michael Vahey
Philadelphia, PA
Icon Construction Group LLC
Philadelphia, PA
Oval Project Management
Philadelphia, PA
Becker & Frondorf, Inc
Philadelphia, PA
IBM Construction Management LLC
Philadelphia, PA
Industry PPP Comparison Statistics
Nationwide, 77,396 businesses in the "Commercial and Institutional Building Construction" industry received a total of $12.37B 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, 95% lower than Clemens Construction Co., Inc's reported 223 employees, and received an average PPP loan of $159,889, 95% lower than this company's loan of $3.26M.
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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