PPP Loan Data — Highland Turf Inc, Finksburg, MD
Highland Turf Inc is a subchapter s corporation located at 4539 Sykesville Rd in Finksburg, Maryland that received a Coronavirus-related PPP loan from the SBA of $1,564,670.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Truist Bank d/b/a Branch Banking & Trust Co
Highland Turf Inc in Finksburg, MD received a Paycheck Protection Loan of $1.56M 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 February, 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, Highland Turf Inc's 2019 payroll expenses are estimated to be at least $7.51M.
Based on their reported 117 jobs retained, this equals an estimated average yearly compensation of $64,192 per employee1
Reported PPP Proceed Usage:
On the PPP application, Highland Turf Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,564,670
Business Information - Highland Turf Inc in Finksburg, MD
4539 Sykesville Rd
Finksburg, MD 21048
Site Preparation Contractors
NAICS code 238910
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Finksburg
In the Finksburg area, 3 businesses in the "Site Preparation Contractors" industry received a PPP loan. These local businesses reported an average of 46 employees (compared to this company's 117) and received an average PPP loan of $601,449 (compared to this company's $1.56M).
Similar Nearby Businesses Who Received PPP Funding:
White Pine Construction Corporation
Deer Park Paving & Excavating Inc
Industry PPP Comparison Statistics
Nationwide, 30,927 businesses in the "Site Preparation Contractors" industry received a total of $4.31B 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 12 employees, 90% lower than Highland Turf Inc's reported 117 employees, and received an average PPP loan of $139,293, 91% lower than this company's loan of $1.56M.
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Footnotes & Information
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