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PPP Loan Data — Gibson & Associates, Inc, Balch Springs, TX

SBA PPP loan data, payroll data, and salaries for Gibson & Associates, Inc
TX

Gibson & Associates, Inc

Entity: Subchapter S Corporation

Industry: Highway, Street, and Bridge Construction

Location: Balch Springs, TX

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Gibson & Associates, Inc is a subchapter s corporation located at 11210 Ryliecrest Dr in Balch Springs, Texas that received a Coronavirus-related PPP loan from the SBA of $3,378,744.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.38M

Jobs Retained:

251

Loan Approved:

2020-04-05

Lender:

INWOOD NATIONAL BANK

Gibson & Associates, Inc in Balch Springs, TX received a Paycheck Protection Loan of $3.38M through INWOOD NATIONAL BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Gibson & Associates, Inc's total 2019 payroll expenses were approximately $16.22M in order to qualify for the PPP loan amount received.

Based on their reported 251 jobs retained, this equals an estimated average yearly compensation of $64,613 per employee1.

Because the loan received by Gibson & Associates, Inc 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 - Gibson & Associates, Inc in Balch Springs, TX

Gibson & Associates, Inc
11210 Ryliecrest Dr
Balch Springs, TX 75180

Business Industry

Highway, Street, and Bridge Construction (NAICS code 237310)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: TX-05

Similar Companies near Balch Springs

In the Balch Springs area, 3 businesses in the "Highway, Street, and Bridge Construction" industry received a PPP loan. These local businesses reported an average of 159 employees (compared to this company's 251) and received an average PPP loan of $2,054,467 (compared to this company's $3.38M).

Industry PPP Comparison Statistics

Nationwide, 7,070 businesses in the "Highway, Street, and Bridge Construction" industry received a total of $2,867,987,409.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 26 employees, 90% lower than Gibson & Associates, Inc's reported 251 employees, and received an average PPP loan of $405,656, 88% lower than this company's loan of $3.38M.

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, and is published unmodified, as provided by the SBA.

Search FederalPay's Full PPP Loan Database

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/gibson-and-associates-inc-balch-springs-tx