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PPP Loan Data — Grunley Construction Co Inc, Rockville, MD

SBA PPP loan data, payroll data, and salaries for Grunley Construction Co Inc
MD

Grunley Construction Co Inc

Entity: Corporation

Industry: Commercial and Institutional Building Construction

Location: Rockville, MD

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Grunley Construction Co Inc is a corporation located at 15020 Shady Grove Rd Ste 500 in Rockville, Maryland that received a Coronavirus-related PPP loan from the SBA of $6,335,675.00 in May, 2020.

$ PPP Loan Information

Loan Size:

$6.34M

Jobs Retained:

321

Loan Approved:

2020-05-01

Lender:

BANK OF AMERICA, NATIONAL ASSOCIATION

Grunley Construction Co Inc received a Paycheck Protection Loan of $6.34M through BANK OF AMERICA, NATIONAL ASSOCIATION, which was approved in May, 2020.

Based on standard PPP eligibility rules, Grunley Construction Co Inc's total 2019 payroll expenses were approximately $30.41M in order to qualify for the PPP loan amount received.

Based on their reported 321 jobs retained, this equals an estimated average yearly compensation of $94,739 per employee1.

Because the loan received by Grunley Construction Co 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 - Grunley Construction Co Inc in Rockville, MD

Grunley Construction Co Inc
15020 Shady Grove Rd Ste 500
Rockville, MD 20850

Business Industry

Commercial and Institutional Building Construction (NAICS code 236220)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MD-06

Similar Companies near Rockville

In the Rockville area, 13 businesses in the "Commercial and Institutional Building Construction" industry received a PPP loan. These local businesses reported an average of 43 employees (compared to this company's 321) and received an average PPP loan of $834,443 (compared to this company's $6.34M).

Industry PPP Comparison Statistics

Nationwide, 39,925 businesses in the "Commercial and Institutional Building Construction" industry received a total of $8,114,153,480.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.

PPP recipients in this industry report an average of 13 employees, 96% lower than Grunley Construction Co Inc's reported 321 employees, and received an average PPP loan of $203,235, 97% lower than this company's loan of $6.34M.

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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) 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/grunley-construction-co-inc-rockville-md