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PPP Loan Data — Cornerstone Masonry Services, Inc., Sun Valley, CA

SBA PPP loan data, payroll data, and salaries for Cornerstone Masonry Services, Inc.
CA

Cornerstone Masonry Services, Inc.

Entity: Corporation

Industry: Masonry Contractors

Location: Sun Valley, CA

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Cornerstone Masonry Services, Inc. is a corporation located at 11070 Fleetwood St Unit A in Sun Valley, California that received a Coronavirus-related PPP loan from the SBA of $766,000.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least 51 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$766,000

Jobs Retained:

51

Loan Approved:

2020-04-14

Lender:

AMERICAN BUSINESS BANK

Cornerstone Masonry Services, Inc. received a Paycheck Protection Loan of $766,000 through AMERICAN BUSINESS BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Cornerstone Masonry Services, Inc.'s total 2019 payroll expenses were approximately $3.68M in order to qualify for the PPP loan amount received.

Based on their reported 51 jobs retained, this equals an estimated average yearly compensation of $72,094 per employee1.

Business Information - Cornerstone Masonry Services, Inc. in Sun Valley, CA

Cornerstone Masonry Services, Inc.
11070 Fleetwood St Unit A
Sun Valley, CA 91352

Business Industry

Masonry Contractors (NAICS code 238140)

Business Owner Demographics

Race / Ethnicity: WHITE

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: CA-29

Similar Companies near Sun Valley

In the Sun Valley area, 5 businesses in the "Masonry Contractors" industry received a PPP loan. These local businesses reported an average of 62 employees (compared to this company's 51) and received an average PPP loan of $928,148 (compared to this company's $766,000).

Industry PPP Comparison Statistics

Nationwide, 8,054 businesses in the "Masonry Contractors" industry received a total of $1,051,191,192.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 10 employees, 80% lower than Cornerstone Masonry Services, Inc.'s reported 51 employees, and received an average PPP loan of $130,518, 83% lower than this company's loan of $766,000.

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. 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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/cornerstone-masonry-services-inc-sun-valley-ca