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PPP Loan Data — Doug Small Construction, Spencer, IA

SBA PPP loan data, payroll data, and salaries for Doug Small Construction
IA

Doug Small Construction

Entity: Sole Proprietorship

Industry: New Single-Family Housing Construction (except For-Sale Builders)

Location: Spencer, IA

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Doug Small Construction is a sole proprietorship located at 3135 240th Ave in Spencer, Iowa that received a Coronavirus-related PPP loan from the SBA of $46,200.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least four people during the applicable loan loan period.

$ PPP Loan Information
Loan #5256477002

Loan Size:

$46,200

Jobs Retained:

4

Loan Approved:

2020-04-05

Loan Status:

Paid in Full or Forgiven

Lender:

Northwest Bank

Doug Small Construction in Spencer, IA received a Paycheck Protection Loan of $46,200 through Northwest 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 November, 2020.

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 More
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.

Read More

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, Doug Small Construction's 2019 payroll expenses are estimated to be at least $221,760.

Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $55,440 per employee1

Reported PPP Proceed Usage:

On the PPP application, Doug Small Construction reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $36,960
  • Utilities: $2,310
  • Mortgage Interest: $4,620
  • Rent: $2,310

Business Information - Doug Small Construction in Spencer, IA

Doug Small Construction
3135 240th Ave
Spencer, IA 51301

Business Owner Demographics

Race: White

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Rural

Clay County, IA — SBA Office 0761 — Congressional District: IA-04

Similar Companies near Spencer

In the Spencer area, 21 businesses in the "New Single-Family Housing Construction (except For-Sale Builders)" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 4) and received an average PPP loan of $25,980 (compared to this company's $46,200).

Industry PPP Comparison Statistics

Nationwide, 127,156 businesses in the "New Single-Family Housing Construction (except For-Sale Builders)" industry received a total of $5.75B 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 5 employees, 25% higher than Doug Small Construction's reported 4 employees, and received an average PPP loan of $45,182, 2% lower than this company's loan of $46,200.

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.

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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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Source: www.federalpay.org/paycheck-protection-program/doug-small-construction-spencer-ia