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PPP Loan Data — Griffin Masonry, Inc, Charlotte, NC

SBA PPP loan data, payroll data, and salaries for Griffin Masonry, Inc
NC

Griffin Masonry, Inc

Entity: Subchapter S Corporation

Industry: Masonry Contractors

Location: Charlotte, NC

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Griffin Masonry, Inc is a subchapter s corporation located at 11301 Blair Rd in Charlotte, North Carolina that received a Coronavirus-related PPP loan from the SBA of $3,173,100.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.17M

Jobs Retained:

285

Loan Approved:

2020-04-10

Lender:

FIRST-CITIZENS BANK & TRUST COMPANY

Griffin Masonry, Inc in Charlotte, NC received a Paycheck Protection Loan of $3.17M through FIRST-CITIZENS BANK & TRUST COMPANY, which was approved in April, 2020.

Based on standard PPP eligibility rules, Griffin Masonry, Inc's total 2019 payroll expenses were approximately $15.23M in order to qualify for the PPP loan amount received.

Based on their reported 285 jobs retained, this equals an estimated average yearly compensation of $53,442 per employee1.

Because the loan received by Griffin Masonry, 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 - Griffin Masonry, Inc in Charlotte, NC

Griffin Masonry, Inc
11301 Blair Rd
Charlotte, NC 28227

Business Industry

Masonry Contractors (NAICS code 238140)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NC-09

Similar Companies near Charlotte

In the Charlotte area, 4 businesses in the "Masonry Contractors" industry received a PPP loan. These local businesses reported an average of 107 employees (compared to this company's 285) and received an average PPP loan of $1,166,135 (compared to this company's $3.17M).

Industry PPP Comparison Statistics

Nationwide, 8,054 businesses in the "Masonry Contractors" industry received a total of $1,051,191,192.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 10 employees, 96% lower than Griffin Masonry, Inc's reported 285 employees, and received an average PPP loan of $130,518, 96% lower than this company's loan of $3.17M.

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.

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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/griffin-masonry-inc-charlotte-nc