PPP Loan Data — Goody Hill Sand And Gravel, Inc, Berlin, MD
Goody Hill Sand And Gravel, Inc is a subchapter s corporation located at 9539 Goody Hill Rd in Berlin, Maryland that received a Coronavirus-related PPP loan from the SBA of $25,197.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of Ocean City
Goody Hill Sand And Gravel, Inc in Berlin, MD received a Paycheck Protection Loan of $25,197 through Bank of Ocean City, which was approved in April, 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 February, 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, Goody Hill Sand And Gravel, Inc's 2019 payroll expenses are estimated to be at least $120,946.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,237 per employee1
Reported PPP Proceed Usage:
On the PPP application, Goody Hill Sand And Gravel, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,197
Business Information - Goody Hill Sand And Gravel, Inc in Berlin, MD
9539 Goody Hill Rd
Berlin, MD 21811
Construction Sand and Gravel Mining
NAICS code 212321
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Berlin
In the Berlin area, 4 businesses in the "Construction Sand and Gravel Mining" industry received a PPP loan. These local businesses reported an average of 10 employees (compared to this company's 4) and received an average PPP loan of $74,635 (compared to this company's $25,197).
Similar Nearby Businesses Who Received PPP Funding:
Goody Hill Groundwork, Inc
Goody Hill Roll-Off, Inc
Raynes Sand & Gravel Inc
Industry PPP Comparison Statistics
Nationwide, 6,468 businesses in the "Construction Sand and Gravel Mining" industry received a total of $541.46M 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 7 employees, 75% higher than Goody Hill Sand And Gravel, Inc's reported 4 employees, and received an average PPP loan of $83,714, 232% higher than this company's loan of $25,197.
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Footnotes & Information
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