PPP Loan Data — Horne Brothers Construction Inc., Fayetteville, NC
Horne Brothers Construction Inc.
Location: Fayetteville, NCTweet This • Search All PPP Data
Horne Brothers Construction Inc. is a corporation located at 1662 Middle River Loop in Fayetteville, North Carolina that received a Coronavirus-related PPP loan from the SBA of $6,852,500.00 in April, 2020.
$ PPP Loan Information
Lender:TRUIST BANK D/B/A BRANCH BANKING & TRUST CO
Horne Brothers Construction Inc. received a Paycheck Protection Loan of $6.85M through TRUIST BANK D/B/A BRANCH BANKING & TRUST CO, which was approved in April, 2020.
Based on standard PPP eligibility rules, Horne Brothers Construction Inc.'s total 2019 payroll expenses were approximately $32.89M in order to qualify for the PPP loan amount received.
Based on their reported 430 jobs retained, this equals an estimated average yearly compensation of $76,493 per employee1.
Business Information - Horne Brothers Construction Inc. in Fayetteville, NC
1662 Middle River Loop
Fayetteville, NC 28312
Power and Communication Line and Related Structures Construction (NAICS code 237130)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: NC-09
Similar Companies near Fayetteville
In the Fayetteville area, 2 businesses in the "Power and Communication Line and Related Structures Construction" industry received a PPP loan. These local businesses reported an average of 219 employees (compared to this company's 430) and received an average PPP loan of $3,446,944 (compared to this company's $6.85M).
Similar Nearby Businesses Who Received PPP Funding:
All Starr Underground, LLC
Industry PPP Comparison Statistics
Nationwide, 2,531 businesses in the "Power and Communication Line and Related Structures Construction" industry received a total of $727,350,112.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 20 employees, 95% lower than Horne Brothers Construction Inc.'s reported 430 employees, and received an average PPP loan of $287,377, 96% lower than this company's loan of $6.85M.
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.
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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