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PPP Loan Data — Joe Raica Excavating, Inc, Fowlerville, MI

SBA PPP loan data, payroll data, and salaries for Joe Raica Excavating, Inc
MI

Joe Raica Excavating, Inc

Entity: Corporation

Industry: Site Preparation Contractors

Location: Fowlerville, MI

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Joe Raica Excavating, Inc is a corporation located at 3640 Nicholson Rd in Fowlerville, Michigan that received a Coronavirus-related PPP loan from the SBA of $150,414.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$150,414

Jobs Retained:

11

Loan Approved:

2020-04-14

Lender:

INDEPENDENT BANK

Joe Raica Excavating, Inc received a Paycheck Protection Loan of $150,414 through INDEPENDENT BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Joe Raica Excavating, Inc's total 2019 payroll expenses were approximately $721,987 in order to qualify for the PPP loan amount received.

Based on their reported 11 jobs retained, this equals an estimated average yearly compensation of $65,635 per employee1.

Business Information - Joe Raica Excavating, Inc in Fowlerville, MI

Joe Raica Excavating, Inc
3640 Nicholson Rd
Fowlerville, MI 48836

Business Industry

Site Preparation Contractors (NAICS code 238910)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MI-08

Similar Companies near Fowlerville

In the Fowlerville area, 6 businesses in the "Site Preparation Contractors" industry received a PPP loan. These local businesses reported an average of 34 employees (compared to this company's 11) and received an average PPP loan of $495,169 (compared to this company's $150,414).

Industry PPP Comparison Statistics

Nationwide, 17,653 businesses in the "Site Preparation Contractors" industry received a total of $2,959,828,729.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 12 employees, 9% higher than Joe Raica Excavating, Inc's reported 11 employees, and received an average PPP loan of $167,667, 11% higher than this company's loan of $150,414.

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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

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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/joe-raica-excavating-inc-fowlerville-mi