PPP Loan Data — Homestead Building Systems Inc, Bristow, VA
Homestead Building Systems Inc
Entity: Subchapter S Corporation
Location: Bristow, VATweet This • Search All PPP Data
Homestead Building Systems Inc is a subchapter s corporation located at 10109 Piper Ln in Bristow, Virginia that received a Coronavirus-related PPP loan from the SBA of $1,872,800.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:PNC Bank, National Association
Homestead Building Systems Inc in Bristow, VA received a Paycheck Protection Loan of $1.87M through PNC Bank, National Association, 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 January, 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, Homestead Building Systems Inc's 2019 payroll expenses are estimated to be at least $8.99M.
Based on their reported 151 jobs retained, this equals an estimated average yearly compensation of $59,533 per employee1
Reported PPP Proceed Usage:
On the PPP application, Homestead Building Systems Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,872,800
Business Information - Homestead Building Systems Inc in Bristow, VA
10109 Piper Ln
Bristow, VA 20136
Engineered Wood Member (except Truss) Manufacturing
NAICS code 321213
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 128 businesses in the "Engineered Wood Member (except Truss) Manufacturing" industry received a total of $28.1M 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 23 employees, 85% lower than Homestead Building Systems Inc's reported 151 employees, and received an average PPP loan of $219,536, 88% lower than this company's loan of $1.87M.
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Footnotes & Information
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