PPP Loan Data — Hardrives Of Delray, Inc, Delray Beach, FL
Hardrives Of Delray, Inc is a corporation located at 2101 S Congress Ave. in Delray Beach, Florida that received a Coronavirus-related PPP loan from the SBA of $1,578,893.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Truist Bank d/b/a Branch Banking & Trust Co
Hardrives Of Delray, Inc in Delray Beach, FL received a Paycheck Protection Loan of $1.58M through Truist Bank d/b/a Branch Banking & Trust Co, 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 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, Hardrives Of Delray, Inc's 2019 payroll expenses are estimated to be at least $7.58M.
Based on their reported 159 jobs retained, this equals an estimated average yearly compensation of $47,665 per employee1
Reported PPP Proceed Usage:
On the PPP application, Hardrives Of Delray, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,578,893
Business Information - Hardrives Of Delray, Inc in Delray Beach, FL
2101 S Congress Ave.
Delray Beach, FL 33445
Highway, Street, and Bridge Construction
NAICS code 237310
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Delray Beach
In the Delray Beach area, 3 businesses in the "Highway, Street, and Bridge Construction" industry received a PPP loan. These local businesses reported an average of 62 employees (compared to this company's 159) and received an average PPP loan of $610,262 (compared to this company's $1.58M).
Similar Nearby Businesses Who Received PPP Funding:
TTC Mot LLC
Delray Beach, FL
Delray Beach, FL
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 Hardrives Of Delray, Inc's reported 159 employees, and received an average PPP loan of $341,702, 78% lower than this company's loan of $1.58M.
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Footnotes & Information
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