PPP Loan Data — Ideal Crane Rental, Inc, Madison, WI
Ideal Crane Rental, Inc is a corporation located at 4349 Acker Rd in Madison, Wisconsin that received a Coronavirus-related PPP loan from the SBA of $1,927,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:1st Source Bank
Ideal Crane Rental, Inc in Madison, WI received a Paycheck Protection Loan of $1.93M through 1st Source Bank, 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 June, 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, Ideal Crane Rental, Inc's 2019 payroll expenses are estimated to be at least $9.25M.
Based on their reported 98 jobs retained, this equals an estimated average yearly compensation of $94,384 per employee1
Reported PPP Proceed Usage:
On the PPP application, Ideal Crane Rental, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,927,000
Business Information - Ideal Crane Rental, Inc in Madison, WI
4349 Acker Rd
Madison, WI 53704
All Other Specialty Trade Contractors
NAICS code 238990
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Madison
In the Madison area, 11 businesses in the "All Other Specialty Trade Contractors" industry received a PPP loan. These local businesses reported an average of 12 employees (compared to this company's 98) and received an average PPP loan of $209,463 (compared to this company's $1.93M).
Similar Nearby Businesses Who Received PPP Funding:
Chasidey Lynn Martin
The Lost Finish Inc
Bulldog Underground Construction Inc
Thomas J Blitz
TJ Garage Doors LLC
Linville Architects LLC
Patriot Glass And Sales LLC
Industry PPP Comparison Statistics
Nationwide, 93,400 businesses in the "All Other Specialty Trade Contractors" industry received a total of $8.04B 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 8 employees, 92% lower than Ideal Crane Rental, Inc's reported 98 employees, and received an average PPP loan of $86,076, 96% lower than this company's loan of $1.93M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!