PPP Loan Data — Greenwood & Son Contracting, Inc, Eustis, FL
Greenwood & Son Contracting, Inc is a subchapter s corporation located at 2707 Cr 44 36738 County Road in Eustis, Florida that received a Coronavirus-related PPP loan from the SBA of $47,191.00 in June, 2020.
The company has reported itself as a White male veteran owned business, and employed at least seven people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Citizens First Bank
Greenwood & Son Contracting, Inc in Eustis, FL received a Paycheck Protection Loan of $47,191 through Citizens First Bank, which was approved in June, 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 May, 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, Greenwood & Son Contracting, Inc's 2019 payroll expenses are estimated to be at least $226,517.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $32,360 per employee1
Reported PPP Proceed Usage:
On the PPP application, Greenwood & Son Contracting, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $47,191
Business Information - Greenwood & Son Contracting, Inc in Eustis, FL
2707 Cr 44 36738 County Road
Eustis, FL 32726
NAICS code 236118
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Eustis
In the Eustis area, 28 businesses in the "Residential Remodelers" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 7) and received an average PPP loan of $13,579 (compared to this company's $47,191).
Similar Nearby Businesses Who Received PPP Funding:
Sham Contracting LLC
Home Improvements By Shawn LLC
Osvaldo M Rodriguez Fontanills
Allen Diversified Services Inc
Ohana Flooring Inc
Livan German Corrales
Industry PPP Comparison Statistics
Nationwide, 175,017 businesses in the "Residential Remodelers" industry received a total of $5.32B 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 3 employees, 57% lower than Greenwood & Son Contracting, Inc's reported 7 employees, and received an average PPP loan of $30,405, 36% lower than this company's loan of $47,191.
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Footnotes & Information
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