PPP Loan Data — IEI General Contractors Inc, De Pere, WI
IEI General Contractors Inc is a corporation located at 1725 Midway Rd in De Pere, Wisconsin that received a Coronavirus-related PPP loan from the SBA of $1,705,400.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Associated Bank, National Association
IEI General Contractors Inc in De Pere, WI received a Paycheck Protection Loan of $1.71M through Associated 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 June, 2021.The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 60 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 82. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, IEI General Contractors Inc's 2019 payroll expenses are estimated to be at least $8.19M (not accounting for salary amounts > $100k).
Because the 60 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, IEI General Contractors Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,705,400
Business Information - IEI General Contractors Inc in De Pere, WI
1725 Midway Rd
De Pere, WI 54115
Other Heavy and Civil Engineering Construction
NAICS code 237990
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near De Pere
In the De Pere area, 3 businesses in the "Other Heavy and Civil Engineering Construction" industry received a PPP loan. These local businesses reported an average of 26 employees (compared to this company's 60) and received an average PPP loan of $640,427 (compared to this company's $1.71M).
Similar Nearby Businesses Who Received PPP Funding:
Feaker & Sons Co Inc
De Pere, WI
A8 Services LLC
De Pere, WI
Industry PPP Comparison Statistics
Nationwide, 11,233 businesses in the "Other Heavy and Civil Engineering Construction" industry received a total of $2.63B 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 17 employees, 72% lower than IEI General Contractors Inc's reported 60 employees, and received an average PPP loan of $234,414, 86% lower than this company's loan of $1.71M.
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Footnotes & Information
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