PPP Loan Data — Flood Brothers Inc, Atlanta, GA
Flood Brothers Inc is a corporation located at 610 Waterfront Dr Sw in Atlanta, Georgia that received a Coronavirus-related PPP loan from the SBA of $1,598,850.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
Flood Brothers Inc in Atlanta, GA received a Paycheck Protection Loan of $1.6M through Bank of America, National Association, which was approved in May, 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 March, 2021.
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, Flood Brothers Inc's 2019 payroll expenses are estimated to be at least $7.67M.
Based on their reported 125 jobs retained, this equals an estimated average yearly compensation of $61,396 per employee1
Reported PPP Proceed Usage:
On the PPP application, Flood Brothers Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,598,850
Business Information - Flood Brothers Inc in Atlanta, GA
610 Waterfront Dr Sw
Atlanta, GA 30336
All Other Specialty Trade Contractors
NAICS code 238990
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Atlanta
In the Atlanta area, 11 businesses in the "All Other Specialty Trade Contractors" industry received a PPP loan. These local businesses reported an average of 53 employees (compared to this company's 125) and received an average PPP loan of $584,014 (compared to this company's $1.6M).
Similar Nearby Businesses Who Received PPP Funding:
GA. Granite, Inc
David R. Mitchell And Associates, Inc
Georgia Tent & Awning Inc
David R Mitchell & Associates Inc DBA Dma Millwork
B&D Concrete Cutting Inc
ATM Granite & Marble, Inc
Euro Aluminum Systems LTD DBA Futimis
S E Star Group LLLP
College Park, GA
Industry PPP Comparison Statistics
Nationwide, 93,400 businesses in the "All Other Specialty Trade Contractors" industry received a total of $8.04B 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 8 employees, 94% lower than Flood Brothers Inc's reported 125 employees, and received an average PPP loan of $86,076, 95% lower than this company's loan of $1.6M.
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Footnotes & Information
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