PPP Loan Data — Evans Roofing Company, Inc, Elmira, NY
Evans Roofing Company, Inc is a corporation located at 1421 College Ave in Elmira, New York that received a Coronavirus-related PPP loan from the SBA of $2,226,775.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Chemung Canal Trust Company
Evans Roofing Company, Inc in Elmira, NY received a Paycheck Protection Loan of $2.23M through Chemung Canal Trust Company, 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, Evans Roofing Company, Inc's 2019 payroll expenses are estimated to be at least $10.69M.
Based on their reported 179 jobs retained, this equals an estimated average yearly compensation of $59,712 per employee1
Reported PPP Proceed Usage:
On the PPP application, Evans Roofing Company, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,226,775
Business Information - Evans Roofing Company, Inc in Elmira, NY
1421 College Ave
Elmira, NY 14901
NAICS code 238160
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 28,905 businesses in the "Roofing Contractors" industry received a total of $2.88B 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, 95% lower than Evans Roofing Company, Inc's reported 179 employees, and received an average PPP loan of $99,538, 96% lower than this company's loan of $2.23M.
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Footnotes & Information
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