PPP Loan Data — C.W Strittmatter Inc, Manassas Park, VA
C.W Strittmatter Inc is a subchapter s corporation located at 9102 Owens Drive in Manassas Park, Virginia that received a Coronavirus-related PPP loan from the SBA of $2,305,682.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 149 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Manufacturers and Traders Trust Company
C.W Strittmatter Inc in Manassas Park, VA received a Paycheck Protection Loan of $2.31M through Manufacturers and Traders Trust Company, which was approved in April, 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, C.W Strittmatter Inc's 2019 payroll expenses are estimated to be at least $11.07M.
Based on their reported 149 jobs retained, this equals an estimated average yearly compensation of $74,277 per employee1
Reported PPP Proceed Usage:
On the PPP application, C.W Strittmatter Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,968,682
- Utilities: $1,000
- Mortgage Interest: $11,000
- Health Care: $100,000
- Debt Interest: $225,000
Business Information - C.W Strittmatter Inc in Manassas Park, VA
9102 Owens Drive
Manassas Park, VA 20111
Site Preparation Contractors
NAICS code 238910
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Manassas Park
In the Manassas Park area, 13 businesses in the "Site Preparation Contractors" industry received a PPP loan. These local businesses reported an average of 22 employees (compared to this company's 149) and received an average PPP loan of $318,343 (compared to this company's $2.31M).
Similar Nearby Businesses Who Received PPP Funding:
Naturalscapes Of Virginia Inc
United Excavating & Land Development, Inc
Strittmatter Contracting LLC
Manassas Park, VA
Modern Excavating Inc
JBB Heating Inc
Industry PPP Comparison Statistics
Nationwide, 30,927 businesses in the "Site Preparation Contractors" industry received a total of $4.31B 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, 92% lower than C.W Strittmatter Inc's reported 149 employees, and received an average PPP loan of $139,293, 94% lower than this company's loan of $2.31M.
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Footnotes & Information
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