PPP Loan Data — Izaguirres Construction Inc, Cranston, RI
Izaguirres Construction Inc is a corporation located at 44 Dunedin St in Cranston, Rhode Island that received a Coronavirus-related PPP loan from the SBA of $25,300.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Citizens Bank, National Association
Izaguirres Construction Inc in Cranston, RI received a Paycheck Protection Loan of $25,300 through Citizens Bank, National Association, which was approved in May, 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, Izaguirres Construction Inc's 2019 payroll expenses are estimated to be at least $121,440.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,360 per employee1
Reported PPP Proceed Usage:
On the PPP application, Izaguirres Construction Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,300
Business Information - Izaguirres Construction Inc in Cranston, RI
44 Dunedin St
Cranston, RI 2920
Painting and Wall Covering Contractors
NAICS code 238320
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Cranston
In the Cranston area, 8 businesses in the "Painting and Wall Covering Contractors" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 4) and received an average PPP loan of $11,926 (compared to this company's $25,300).
Similar Nearby Businesses Who Received PPP Funding:
JJ Gilbert Enterprises
S J Casale Painting Inc
Industry PPP Comparison Statistics
Nationwide, 50,571 businesses in the "Painting and Wall Covering Contractors" industry received a total of $2.46B 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 5 employees, 25% higher than Izaguirres Construction Inc's reported 4 employees, and received an average PPP loan of $48,668, 92% higher than this company's loan of $25,300.
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Footnotes & Information
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