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PPP Loan Data — Ferguson Construction Company, Lovington, NM

SBA PPP loan data, payroll data, and salaries for Ferguson Construction Company
NM

Ferguson Construction Company

Entity: Corporation

Industry: Support Activities for Oil and Gas Operations

Location: Lovington, NM

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Ferguson Construction Company is a corporation located at 2200 S. Commercial St in Lovington, New Mexico that received a Coronavirus-related PPP loan from the SBA of $4,165,900.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least 233 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$4.17M

Jobs Retained:

233

Loan Approved:

2020-04-03

Lender:

WESTERN COMMERCE BANK

Ferguson Construction Company received a Paycheck Protection Loan of $4.17M through WESTERN COMMERCE BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Ferguson Construction Company's total 2019 payroll expenses were approximately $20M in order to qualify for the PPP loan amount received.

Based on their reported 233 jobs retained, this equals an estimated average yearly compensation of $85,821 per employee1.

Because the loan received by Ferguson Construction Company 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 - Ferguson Construction Company in Lovington, NM

Ferguson Construction Company
2200 S. Commercial St
Lovington, NM 88260

Business Industry

Support Activities for Oil and Gas Operations (NAICS code 213112)

Business Owner Demographics

Race / Ethnicity: WHITE

Gender: MALE OWNED

Veteran Status: Unreported

Congressional District: NM-02

Similar Companies near Lovington

In the Lovington area, 59 businesses in the "Support Activities for Oil and Gas Operations" industry received a PPP loan. These local businesses reported an average of 13 employees (compared to this company's 233) and received an average PPP loan of $208,432 (compared to this company's $4.17M).

Industry PPP Comparison Statistics

Nationwide, 11,335 businesses in the "Support Activities for Oil and Gas Operations" industry received a total of $2,439,543,076.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 13 employees, 94% lower than Ferguson Construction Company's reported 233 employees, and received an average PPP loan of $215,222, 95% lower than this company's loan of $4.17M.

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.

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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/ferguson-construction-company-lovington-nm