PPP Loan Data — Doster Construction Company Inc, Birmingham, AL

Doster Construction Company Inc

Entity: Corporation

Industry: Residential Remodelers

Location: Birmingham, AL

Doster Construction Company Inc is a corporation located at 2100 International Park Drive in Birmingham, Alabama that received a Coronavirus-related PPP loan from the SBA of $3,768,800.00 in April, 2020.

$ PPP Loan Information
Loan #5572247005

Loan Size:

$3.77M

Jobs Retained:

209

Loan Approved:

2020-04-05

Loan Status:

Paid in Full or Forgiven

Lender:

First Horizon Bank

Doster Construction Company Inc in Birmingham, AL received a Paycheck Protection Loan of $3.77M through First Horizon 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 July, 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.

Understanding 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.

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, Doster Construction Company Inc's 2019 payroll expenses are estimated to be at least $18.09M.

Based on their reported 209 jobs retained, this equals an estimated average yearly compensation of $86,556 per employee¹

Reported PPP Proceed Usage:

On the PPP application, Doster Construction Company Inc reported intending to use the proceeds of their PPP loan for the following expenses:

Payroll: $3,768,800

Because the loan received by Doster Construction Company Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Doster Construction Company Inc in Birmingham, AL

Doster Construction Company Inc
2100 International Park Drive
Birmingham, AL 35243

Business Industry:
Residential Remodelers
NAICS code 236118

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

Jefferson County, AL — SBA Office 0459 — Congressional District: AL-06

Similar Companies near Birmingham

In the Birmingham area, 73 businesses in the "Residential Remodelers" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 209) and received an average PPP loan of $77,555 (compared to this company's $3.77M).

Similar Nearby Businesses Who Received PPP Funding:

Stephen Robinson
Birmingham, AL

$1,363 PPP Loan

TOD Bearden Contracting
Birmingham, AL

$10,860 PPP Loan

Serve One Construction, LLC
Birmingham, AL

$51,100 PPP Loan

Tanya Devendorf
Hoover, AL

$5,207 PPP Loan

Sunrise Docks LLC
Birmingham, AL

$128,200 PPP Loan

Raka LLC
Birmingham, AL

$25,000 PPP Loan

Lake Martin Painting LLC
Birmingham, AL

$94,500 PPP Loan

Precision Homecrafters, LLC
Birmingham, AL

$72,000 PPP Loan

Cbam LLC
Hoover, AL

$20,389 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 166,329 businesses in the "Residential Remodelers" industry received a total of $5.15B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 3 employees, 99% lower than Doster Construction Company Inc's reported 209 employees, and received an average PPP loan of $30,989, 99% lower than this company's loan of $3.77M.

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.

Search FederalPay's Full PPP Loan Database

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.

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