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PPP Loan Data — Deangelis Diamond Construction LLC,
Naples, FL
Deangelis Diamond Construction LLC
Entity: Limited Liability Company (LLC)
Industry: Structural Steel and Precast Concrete Contractors
Location: Naples, FL
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Deangelis Diamond Construction LLC is a limited liability company (LLC) located at 6635 Willow Park Dr in Naples, Florida that received a Coronavirus-related PPP loan from the SBA of $1,828,575.00 in January, 2021.
$
PPP Loan Information
Loan #4732588309
Loan Size:
Jobs Retained:
167Loan Approved:
2021-01-23Loan Status:
Paid in Full or ForgivenLender:
First Florida Integrity BankDeangelis Diamond Construction LLC in Naples, FL received a Paycheck Protection Loan of $1.83M through First Florida Integrity Bank, which was approved in January, 2021.
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 October, 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, Deangelis Diamond Construction LLC's 2019 payroll expenses are estimated to be at least $8.78M.
Based on their reported 167 jobs retained, this equals an estimated average yearly compensation of $52,558 per employee1
Reported PPP Proceed Usage:
On the PPP application, Deangelis Diamond Construction LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,828,573
- Utilities: $1
Business Information - Deangelis Diamond Construction LLC in Naples, FL
6635 Willow Park Dr
Naples, FL 34109
Business Industry:
Structural Steel and Precast Concrete Contractors
NAICS code 238120
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: N
HUBZone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 3,833 businesses in the "Structural Steel and Precast Concrete Contractors" industry received a total of $1.01B 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 20 employees, 88% lower than Deangelis Diamond Construction LLC's reported 167 employees, and received an average PPP loan of $264,469, 86% lower than this company's loan of $1.83M.
Deangelis Diamond Construction, LLC
Entity: Limited Liability Company (LLC)
Industry: Commercial and Institutional Building Construction
Location: Naples, FL
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Deangelis Diamond Construction, LLC is a limited liability company (LLC) located at 6635 Willow Park Dr in Naples, Florida that received a Coronavirus-related PPP loan from the SBA of $3,171,425.00 in April, 2020.
$
PPP Loan Information
Loan #9584627007
Loan Size:
Jobs Retained:
150Loan Approved:
2020-04-09Loan Status:
Paid in Full or ForgivenLender:
First Florida Integrity BankDeangelis Diamond Construction, LLC in Naples, FL received a Paycheck Protection Loan of $3.17M through First Florida Integrity Bank, 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.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 150 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 152. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, Deangelis Diamond Construction, LLC's 2019 payroll expenses are estimated to be at least $15.22M (not accounting for salary amounts > $100k).
Because the 150 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Deangelis Diamond Construction, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,537,140
- Utilities: $200,000
- Rent: $284,285
- Health Care: $150,000
Business Information - Deangelis Diamond Construction, LLC in Naples, FL
6635 Willow Park Dr
Naples, FL 34109
Business Industry:
Commercial and Institutional Building Construction
NAICS code 236220
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: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Naples
In the Naples area, 38 businesses in the "Commercial and Institutional Building Construction" industry received a PPP loan. These local businesses reported an average of 17 employees (compared to this company's 150) and received an average PPP loan of $227,584 (compared to this company's $3.17M).
Similar Nearby Businesses Who Received PPP Funding:
Artisan Associates, Inc
Naples, FL
Collier Commercial Cleaning Inc
Naples, FL
JD Construction And Associates Inc
Naples, FL
Home Improvements By Stanley
Naples, FL
Ryan And Voigt Contracting, Inc
Naples, FL
Development Services Of Florida Inc
Naples, FL
Phoenix Associates Of South Florida Inc
Naples, FL
Anovus Corporation
Naples, FL
The Glendale Group Of Southwest Florida LLC
Naples, FL
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, 92% lower than Deangelis Diamond Construction, LLC's reported 150 employees, and received an average PPP loan of $159,889, 95% lower than this company's loan of $3.17M.
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.
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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