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PPP Loan Data — Hourigan Construction Corp, Virginia Beach, VA

SBA PPP loan data, payroll data, and salaries for Hourigan Construction Corp
VA

Hourigan Construction Corp

Entity: Corporation

Industry: Engineering Services

Location: Virginia Beach, VA

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Hourigan Construction Corp is a corporation located at 4429 Bonny Road 200 in Virginia Beach, Virginia that received a Coronavirus-related PPP loan from the SBA of $4,283,331.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$4.28M

Jobs Retained:

235

Loan Approved:

2020-04-14

Lender:

FULTON BANK, NATIONAL ASSOCIATION

Hourigan Construction Corp in Virginia Beach, VA received a Paycheck Protection Loan of $4.28M through FULTON BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Hourigan Construction Corp's total 2019 payroll expenses were approximately $20.56M in order to qualify for the PPP loan amount received.

Based on their reported 235 jobs retained, this equals an estimated average yearly compensation of $87,489 per employee1.

Because the loan received by Hourigan Construction Corp is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Hourigan Construction Corp in Virginia Beach, VA

Hourigan Construction Corp
4429 Bonny Road 200
Virginia Beach, VA 23462

Business Industry

Engineering Services (NAICS code 541330)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: VA-02

Similar Companies near Virginia Beach

In the Virginia Beach area, 8 businesses in the "Engineering Services" industry received a PPP loan. These local businesses reported an average of 92 employees (compared to this company's 235) and received an average PPP loan of $1,092,585 (compared to this company's $4.28M).

Industry PPP Comparison Statistics

Nationwide, 28,113 businesses in the "Engineering Services" industry received a total of $7,024,215,141.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 14 employees, 94% lower than Hourigan Construction Corp's reported 235 employees, and received an average PPP loan of $249,856, 94% lower than this company's loan of $4.28M.

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, and is published unmodified, as provided by the SBA.

Search FederalPay's Full PPP Loan Database

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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Source: www.federalpay.org/paycheck-protection-program/hourigan-construction-corp-virginia-beach-va