PPP Loan Data — Higdon Construction, LLC, Conroe, TX
Higdon Construction, LLC
Entity: Limited Liability Company (LLC)
Location: Conroe, TXTweet This • Search All PPP Data
Higdon Construction, LLC is a limited liability company (LLC) located at 28471 Robinson Rd in Conroe, Texas that received a Coronavirus-related PPP loan from the SBA of $1,998,800.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Woodforest National Bank
Higdon Construction, LLC in Conroe, TX received a Paycheck Protection Loan of $2M through Woodforest National Bank, which was approved in April, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 96. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, Higdon Construction, LLC's 2019 payroll expenses are estimated to be at least $9.59M (not accounting for salary amounts > $100k).
Because the 81 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Higdon Construction, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,998,800
Business Information - Higdon Construction, LLC in Conroe, TX
28471 Robinson Rd
Conroe, TX 77385
Electrical Contractors and Other Wiring Installation Contractors
NAICS code 238210
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Conroe
In the Conroe area, 29 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 81) and received an average PPP loan of $127,081 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
CMP Fiber Services, LLC
The Woodlands, TX
Walter J Beck
The Woodlands, TX
Expert Outdoor Lighting Inc
Elliott Electrical Services, Inc
Enigma Electric LLC
Ruiz Electrical Services LLC
Industry PPP Comparison Statistics
Nationwide, 82,626 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a total of $11.77B 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 11 employees, 86% lower than Higdon Construction, LLC's reported 81 employees, and received an average PPP loan of $142,494, 93% lower than this company's loan of $2M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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