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PPP Loan Data — Commercial Brick Corporation, Wewoka, OK

SBA PPP loan data, payroll data, and salaries for Commercial Brick Corporation
OK

Commercial Brick Corporation

Entity: Subchapter S Corporation

Industry: Clay Building Material and Refractories Manufacturing

Location: Wewoka, OK

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Commercial Brick Corporation is a subchapter s corporation located at Old Highway 270 W in Wewoka, Oklahoma that received a Coronavirus-related PPP loan from the SBA of $1,971,200.00 in April, 2020.

$ PPP Loan Information
Loan #1932347105

Loan Size:

$1.97M

Jobs Retained:

185

Loan Approved:

2020-04-10

Loan Status:

Paid in Full or Forgiven

Lender:

BOKF, National Association

Commercial Brick Corporation in Wewoka, OK received a Paycheck Protection Loan of $1.97M through BOKF, 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 April, 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.

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Understanding 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.

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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, Commercial Brick Corporation's 2019 payroll expenses are estimated to be at least $9.46M.

Based on their reported 185 jobs retained, this equals an estimated average yearly compensation of $51,145 per employee1

Reported PPP Proceed Usage:

On the PPP application, Commercial Brick Corporation reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,971,200

Business Information - Commercial Brick Corporation in Wewoka, OK

Commercial Brick Corporation
Old Highway 270 W
Wewoka, OK 74884

Business Industry:
Clay Building Material and Refractories Manufacturing
NAICS code 327120

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: N

Rural / Urban: Rural

Seminole County, OK — SBA Office 0680 — Congressional District: OK-05

Industry PPP Comparison Statistics

Nationwide, 376 businesses in the "Clay Building Material and Refractories Manufacturing" industry received a total of $142.94M 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 33 employees, 82% lower than Commercial Brick Corporation's reported 185 employees, and received an average PPP loan of $380,169, 81% lower than this company's loan of $1.97M.

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.

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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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Source: www.federalpay.org/paycheck-protection-program/commercial-brick-corporation-wewoka-ok