PPP Loan Data — Joseph W Bommarito Construction Co Inc, Fenton, MO
Joseph W Bommarito Construction Co Inc
Location: Fenton, MOTweet This • Search All PPP Data
Joseph W Bommarito Construction Co Inc is a corporation located at 403 Axminister Dr. in Fenton, Missouri that received a Coronavirus-related PPP loan from the SBA of $2,017,002.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 75 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Joseph W Bommarito Construction Co Inc in Fenton, MO received a Paycheck Protection Loan of $2.02M through First Bank, which was approved in April, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 97. 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, Joseph W Bommarito Construction Co Inc's 2019 payroll expenses are estimated to be at least $9.68M (not accounting for salary amounts > $100k).
Because the 75 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, Joseph W Bommarito Construction Co Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,017,002
Business Information - Joseph W Bommarito Construction Co Inc in Fenton, MO
403 Axminister Dr.
Fenton, MO 63026
Construction and Mining (except Oil Well) Machinery and Equipment Merchant Wholesalers
NAICS code 423810
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Fenton
In the Fenton area, 4 businesses in the "Construction and Mining (except Oil Well) Machinery and Equipment Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 84 employees (compared to this company's 75) and received an average PPP loan of $1,787,547 (compared to this company's $2.02M).
Similar Nearby Businesses Who Received PPP Funding:
ERB Equipmen Co., Inc
Luby Shoring Service, LLC
Machine Maintenance Inc
Industry PPP Comparison Statistics
Nationwide, 3,476 businesses in the "Construction and Mining (except Oil Well) Machinery and Equipment Merchant Wholesalers" industry received a total of $591.54M 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 13 employees, 83% lower than Joseph W Bommarito Construction Co Inc's reported 75 employees, and received an average PPP loan of $170,179, 92% lower than this company's loan of $2.02M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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