PPP Loan Data — Gotcha Covered Roofing, Mcdonough, GA
Gotcha Covered Roofing is a limited liability company (LLC) located at 1005 Matthews Way in Mcdonough, Georgia that received a Coronavirus-related PPP loan from the SBA of $25,062.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Heritage Bank, National Association
Gotcha Covered Roofing in Mcdonough, GA received a Paycheck Protection Loan of $25,062 through Heritage Bank, National Association, 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 June, 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, Gotcha Covered Roofing's 2019 payroll expenses are estimated to be at least $120,298.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,075 per employee1
Reported PPP Proceed Usage:
On the PPP application, Gotcha Covered Roofing reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,062
Business Information - Gotcha Covered Roofing in Mcdonough, GA
1005 Matthews Way
Mcdonough, GA 30252
NAICS code 238160
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Mcdonough
In the Mcdonough area, 15 businesses in the "Roofing Contractors" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 4) and received an average PPP loan of $22,537 (compared to this company's $25,062).
Similar Nearby Businesses Who Received PPP Funding:
Georgia Roofing & Metal Co
Anthony Drew Neal
Home Right Solutions
HII Power Roofing LLC
Industry PPP Comparison Statistics
Nationwide, 28,905 businesses in the "Roofing Contractors" industry received a total of $2.88B 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 9 employees, 125% higher than Gotcha Covered Roofing's reported 4 employees, and received an average PPP loan of $99,538, 297% higher than this company's loan of $25,062.
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Footnotes & Information
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