PPP Loan Data — Horsfield Construction, Inc, Epworth, IA
Horsfield Construction, Inc
Location: Epworth, IATweet This • Search All PPP Data
Horsfield Construction, Inc is a corporation located at Po Box 305 505 E Main St in Epworth, Iowa that received a Coronavirus-related PPP loan from the SBA of $46,500.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least three people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Fidelity Bank & Trust
Horsfield Construction, Inc in Epworth, IA received a Paycheck Protection Loan of $46,500 through Fidelity Bank & Trust, 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 November, 2020.
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, Horsfield Construction, Inc's 2019 payroll expenses are estimated to be at least $223,200.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $74,400 per employee1
Reported PPP Proceed Usage:
On the PPP application, Horsfield Construction, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,500
Business Information - Horsfield Construction, Inc in Epworth, IA
Po Box 305 505 E Main St
Epworth, IA 52045
Construction and Mining (except Oil Well) Machinery and Equipment Merchant Wholesalers
NAICS code 423810
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 3,476 businesses in the "Construction and Mining (except Oil Well) Machinery and Equipment Merchant Wholesalers" industry received a total of $591.54M 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 13 employees, 333% higher than Horsfield Construction, Inc's reported 3 employees, and received an average PPP loan of $170,179, 266% higher than this company's loan of $46,500.
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Footnotes & Information
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