PPP Loan Data — Elliott/Drinkward Construction, Inc, Torrance, CA
Elliott/Drinkward Construction, Inc is a corporation located at 2535 237th St in Torrance, California that received a Coronavirus-related PPP loan from the SBA of $2,440,558.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Pacific Western Bank
Elliott/Drinkward Construction, Inc in Torrance, CA received a Paycheck Protection Loan of $2.44M through Pacific Western Bank, 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, Elliott/Drinkward Construction, Inc's 2019 payroll expenses are estimated to be at least $11.71M.
Based on their reported 137 jobs retained, this equals an estimated average yearly compensation of $85,509 per employee1
Reported PPP Proceed Usage:
On the PPP application, Elliott/Drinkward Construction, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,440,558
Business Information - Elliott/Drinkward Construction, Inc in Torrance, CA
2535 237th St
Torrance, CA 90505
NAICS code 238130
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Torrance
In the Torrance area, 4 businesses in the "Framing Contractors" industry received a PPP loan. These local businesses reported an average of 36 employees (compared to this company's 137) and received an average PPP loan of $616,350 (compared to this company's $2.44M).
Similar Nearby Businesses Who Received PPP Funding:
Ryan Robert Construction
Glenn Sidney Hatch
Beechwood Cabinets, Inc
Industry PPP Comparison Statistics
Nationwide, 9,856 businesses in the "Framing Contractors" industry received a total of $724.39M 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 7 employees, 95% lower than Elliott/Drinkward Construction, Inc's reported 137 employees, and received an average PPP loan of $73,498, 97% lower than this company's loan of $2.44M.
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Footnotes & Information
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