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PPP Loan Data — Forma Construction Company,
Olympia, WA
Forma Construction Company
Entity: Subchapter S Corporation
Industry: Commercial and Institutional Building Construction
Location: Olympia, WA
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Forma Construction Company is a subchapter s corporation located at 2823 29th Ave Sw in Olympia, Washington that received a Coronavirus-related PPP loan from the SBA of $3,152,000.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
0 UnreportedLoan Approved:
2020-04-08Lender:
HERITAGE BANKForma Construction Company received a Paycheck Protection Loan of $3.15M through HERITAGE BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Forma Construction Company's total 2019 payroll expenses were approximately $15.13M in order to qualify for the PPP loan amount received.
Unlike most businesses, Forma Construction Company's PPP data does not report the number of jobs retained by their receipt of the Paycheck Protection Loan (some banks did not release this infomation from their loan applications). Without this data, per-employee payrolls for this company cannot be estimated.
Business Information - Forma Construction Company in Olympia, WA
2823 29th Ave Sw
Olympia, WA 98512
Business Industry
Commercial and Institutional Building Construction (NAICS code 236220)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: WA-10Similar Companies near Olympia
In the Olympia area, 10 businesses in the "Commercial and Institutional Building Construction" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 0) and received an average PPP loan of $401,853 (compared to this company's $3.15M).
Similar Nearby Businesses Who Received PPP Funding:
KBH Construction Company
Olympia, WA
GDK Services LLC
Tumwater, WA
J.A.M. Construction Inc.
Olympia, WA
Handyman Rescue LLC
Olympia, WA
Commercial Property Services LLC
Tumwater, WA
Chris Bonds Construction LLC
Olympia, WA
Construct, Inc.
Tumwater, WA
Lemier Construction LLC
Tumwater, WA
Industry PPP Comparison Statistics
Nationwide, 39,925 businesses in the "Commercial and Institutional Building Construction" industry received a total of $8,114,153,480.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 13 employees, and received an average PPP loan of $203,235, 94% lower than this company's loan of $3.15M.
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.
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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