PPP Loan Data — Dominion Environmental Group Inc, Midlothian, VA
Dominion Environmental Group Inc is a corporation located at 201 Wylderose Dr in Midlothian, Virginia that received a Coronavirus-related PPP loan from the SBA of $2,009,500.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Truist Bank d/b/a Branch Banking & Trust Co
Dominion Environmental Group Inc in Midlothian, VA received a Paycheck Protection Loan of $2.01M through Truist Bank d/b/a Branch Banking & Trust Co, 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, Dominion Environmental Group Inc's 2019 payroll expenses are estimated to be at least $9.65M.
Based on their reported 120 jobs retained, this equals an estimated average yearly compensation of $80,380 per employee1
Reported PPP Proceed Usage:
On the PPP application, Dominion Environmental Group Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,009,500
Business Information - Dominion Environmental Group Inc in Midlothian, VA
201 Wylderose Dr
Midlothian, VA 23113
Environmental Consulting Services
NAICS code 541620
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Midlothian
In the Midlothian area, 10 businesses in the "Environmental Consulting Services" industry received a PPP loan. These local businesses reported an average of 17 employees (compared to this company's 120) and received an average PPP loan of $239,732 (compared to this company's $2.01M).
Similar Nearby Businesses Who Received PPP Funding:
Hayes Microbial Consulting, LLC
Triangle Environmental Services Centerr, Inc
Enviro Utilities Inc
Ritchie Environmental Solutions LLC
Willie Graham LLC
Industry PPP Comparison Statistics
Nationwide, 9,454 businesses in the "Environmental Consulting Services" industry received a total of $1.05B 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 9 employees, 93% lower than Dominion Environmental Group Inc's reported 120 employees, and received an average PPP loan of $110,904, 94% lower than this company's loan of $2.01M.
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Footnotes & Information
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