PPP Loan Data — JPW Structural Contracting, Inc, Syracuse, NY
JPW Structural Contracting, Inc is a subchapter s corporation located at 6376 Thompson Road in Syracuse, New York that received a Coronavirus-related PPP loan from the SBA of $1,506,597.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 98 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Manufacturers and Traders Trust Company
JPW Structural Contracting, Inc in Syracuse, NY received a Paycheck Protection Loan of $1.51M through Manufacturers and Traders Trust Company, 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 March, 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, JPW Structural Contracting, Inc's 2019 payroll expenses are estimated to be at least $7.23M.
Based on their reported 98 jobs retained, this equals an estimated average yearly compensation of $73,793 per employee1
Reported PPP Proceed Usage:
On the PPP application, JPW Structural Contracting, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,347,419
- Utilities: $27,658
- Mortgage Interest: $10,400
- Rent: $25,000
- Health Care: $78,000
- Debt Interest: $18,120
Business Information - JPW Structural Contracting, Inc in Syracuse, NY
6376 Thompson Road
Syracuse, NY 13206
Fabricated Structural Metal Manufacturing
NAICS code 332312
Business Owner Demographics
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 Syracuse
In the Syracuse area, 3 businesses in the "Fabricated Structural Metal Manufacturing" industry received a PPP loan. These local businesses reported an average of 36 employees (compared to this company's 98) and received an average PPP loan of $542,256 (compared to this company's $1.51M).
Similar Nearby Businesses Who Received PPP Funding:
Syraco Products Inc
Panther Frameworx, Inc
Industry PPP Comparison Statistics
Nationwide, 5,157 businesses in the "Fabricated Structural Metal Manufacturing" industry received a total of $1.41B 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 24 employees, 76% lower than JPW Structural Contracting, Inc's reported 98 employees, and received an average PPP loan of $273,385, 82% lower than this company's loan of $1.51M.
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Footnotes & Information
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