PPP Loan Data — General Insulation Inc, Theodore, AL
General Insulation Inc is a corporation located at 3555 Hurricane Bay Dr in Theodore, Alabama that received a Coronavirus-related PPP loan from the SBA of $3,432,305.00 in April, 2020.
$ PPP Loan Information
General Insulation Inc received a Paycheck Protection Loan of $3.43M through BANCORPSOUTH BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, General Insulation Inc's total 2019 payroll expenses were approximately $16.48M in order to qualify for the PPP loan amount received.
Based on their reported 384 jobs retained, this equals an estimated average yearly compensation of $42,904 per employee1.
Business Information - General Insulation Inc in Theodore, AL
3555 Hurricane Bay Dr
Theodore, AL 36582
All Other Specialty Trade Contractors (NAICS code 238990)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: AL-01
Similar Companies near Theodore
In the Theodore area, 11 businesses in the "All Other Specialty Trade Contractors" industry received a PPP loan. These local businesses reported an average of 54 employees (compared to this company's 384) and received an average PPP loan of $583,550 (compared to this company's $3.43M).
Similar Nearby Businesses Who Received PPP Funding:
Johnathan R Cromer
Coburn Construction Co Inc
Gulf Equipment Corporation
Micro Fab Inc
Bama Brothers, Inc.
Davis Construction And Building LLC
Forwood Brothers Insulation, LLC
Industry PPP Comparison Statistics
Nationwide, 44,474 businesses in the "All Other Specialty Trade Contractors" industry received a total of $5,068,221,395.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 9 employees, 98% lower than General Insulation Inc's reported 384 employees, and received an average PPP loan of $113,959, 97% lower than this company's loan of $3.43M.
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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