PPP Loan Data — Foundation Specialists, LLC, Puyallup, WA
Foundation Specialists, LLC
Location: Puyallup, WATweet This • Search All PPP Data
Foundation Specialists, LLC is a partnership located at 11012 Canyon Rd East, Suite 8-390 in Puyallup, Washington that received a Coronavirus-related PPP loan from the SBA of $2,325,329.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of the West
Foundation Specialists, LLC in Puyallup, WA received a Paycheck Protection Loan of $2.33M through Bank of the West, 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, Foundation Specialists, LLC's 2019 payroll expenses are estimated to be at least $11.16M.
Based on their reported 171 jobs retained, this equals an estimated average yearly compensation of $65,272 per employee1
Reported PPP Proceed Usage:
On the PPP application, Foundation Specialists, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,325,329
Business Information - Foundation Specialists, LLC in Puyallup, WA
11012 Canyon Rd East, Suite 8-390
Puyallup, WA 98373
Poured Concrete Foundation and Structure Contractors
NAICS code 238110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Puyallup
In the Puyallup area, 5 businesses in the "Poured Concrete Foundation and Structure Contractors" industry received a PPP loan. These local businesses reported an average of 42 employees (compared to this company's 171) and received an average PPP loan of $505,802 (compared to this company's $2.33M).
Similar Nearby Businesses Who Received PPP Funding:
Wells Concrete Pumping LLC
FIR Lane Construction, Inc
Kimball Concrete Inc
PSI Concrete LLC
Industry PPP Comparison Statistics
Nationwide, 21,801 businesses in the "Poured Concrete Foundation and Structure Contractors" industry received a total of $3.02B 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 13 employees, 92% lower than Foundation Specialists, LLC's reported 171 employees, and received an average PPP loan of $138,620, 94% lower than this company's loan of $2.33M.
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Footnotes & Information
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