PPP Loan Data — Granite Excavation, Inc, Cascade, ID
Granite Excavation, Inc is a subchapter s corporation located at 23 Warm Lake Hwy in Cascade, Idaho that received a Coronavirus-related PPP loan from the SBA of $1,708,676.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 166 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Idaho First Bank
Granite Excavation, Inc in Cascade, ID received a Paycheck Protection Loan of $1.71M through Idaho First Bank, 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 April, 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, Granite Excavation, Inc's 2019 payroll expenses are estimated to be at least $8.2M.
Based on their reported 166 jobs retained, this equals an estimated average yearly compensation of $49,408 per employee1
Reported PPP Proceed Usage:
On the PPP application, Granite Excavation, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,708,676
Business Information - Granite Excavation, Inc in Cascade, ID
23 Warm Lake Hwy
Cascade, ID 83611
Highway, Street, and Bridge Construction
NAICS code 237310
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 11,483 businesses in the "Highway, Street, and Bridge Construction" industry received a total of $3.92B 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 26 employees, 84% lower than Granite Excavation, Inc's reported 166 employees, and received an average PPP loan of $341,702, 80% lower than this company's loan of $1.71M.
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Footnotes & Information
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