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PPP Loan Data — Fann Contracting, Inc., Prescott, AZ

SBA PPP loan data, payroll data, and salaries for Fann Contracting, Inc.
AZ

Fann Contracting, Inc.

Entity: Subchapter S Corporation

Industry: Highway, Street, and Bridge Construction

Location: Prescott, AZ

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Fann Contracting, Inc. is a subchapter s corporation located at 1403 Industrial Way in Prescott, Arizona that received a Coronavirus-related PPP loan from the SBA of $3,290,600.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.29M

Jobs Retained:

255

Loan Approved:

2020-04-15

Lender:

ZIONS BANK, A DIVISION OF

Fann Contracting, Inc. in Prescott, AZ received a Paycheck Protection Loan of $3.29M through ZIONS BANK, A DIVISION OF, which was approved in April, 2020.

Based on standard PPP eligibility rules, Fann Contracting, Inc.'s total 2019 payroll expenses were approximately $15.79M in order to qualify for the PPP loan amount received.

Based on their reported 255 jobs retained, this equals an estimated average yearly compensation of $61,941 per employee1.

Because the loan received by Fann Contracting, 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 - Fann Contracting, Inc. in Prescott, AZ

Fann Contracting, Inc.
1403 Industrial Way
Prescott, AZ 86301

Business Industry

Highway, Street, and Bridge Construction (NAICS code 237310)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: AZ-04

Industry PPP Comparison Statistics

Nationwide, 7,070 businesses in the "Highway, Street, and Bridge Construction" industry received a total of $2,867,987,409.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 26 employees, 90% lower than Fann Contracting, Inc.'s reported 255 employees, and received an average PPP loan of $405,656, 88% lower than this company's loan of $3.29M.

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, and is published unmodified, as provided by the SBA.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. 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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/fann-contracting-inc-prescott-az