PPP Loan Data — Digging & Rigging Inc, Mount Airy, MD
Digging & Rigging Inc
Entity: Subchapter S Corporation
Location: Mount Airy, MDTweet This • Search All PPP Data
Digging & Rigging Inc is a subchapter s corporation located at 6037 Buffalo Rd in Mount Airy, Maryland that received a Coronavirus-related PPP loan from the SBA of $3,486,700.00 in April, 2020.
$ PPP Loan Information
Lender:TRUIST BANK D/B/A BRANCH BANKING & TRUST CO
Digging & Rigging Inc in Mount Airy, MD received a Paycheck Protection Loan of $3.49M through TRUIST BANK D/B/A BRANCH BANKING & TRUST CO, which was approved in April, 2020.
Based on standard PPP eligibility rules, Digging & Rigging Inc's total 2019 payroll expenses were approximately $16.74M in order to qualify for the PPP loan amount received.
Based on their reported 223 jobs retained, this equals an estimated average yearly compensation of $75,050 per employee1.
Business Information - Digging & Rigging Inc in Mount Airy, MD
6037 Buffalo Rd
Mount Airy, MD 21771
Other Commercial and Industrial Machinery and Equipment Rental and Leasing (NAICS code 532490)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: MD-08
Industry PPP Comparison Statistics
Nationwide, 4,159 businesses in the "Other Commercial and Industrial Machinery and Equipment Rental and Leasing" industry received a total of $707,533,609.00 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 13 employees, 94% lower than Digging & Rigging Inc's reported 223 employees, and received an average PPP loan of $170,121, 95% lower than this company's loan of $3.49M.
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, and is published unmodified, as provided by the SBA.
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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