PPP Loan Data — Kingsway Contracting & Excavating, Inc, Euclid, OH
Kingsway Contracting & Excavating, Inc is a corporation located at 2116 Miami Rd in Euclid, Ohio that received a Coronavirus-related PPP loan from the SBA of $25,300.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:KeyBank National Association
Kingsway Contracting & Excavating, Inc in Euclid, OH received a Paycheck Protection Loan of $25,300 through KeyBank National Association, which was approved in April, 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, Kingsway Contracting & Excavating, Inc's 2019 payroll expenses are estimated to be at least $121,440.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,288 per employee1
Reported PPP Proceed Usage:
On the PPP application, Kingsway Contracting & Excavating, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,300
Business Information - Kingsway Contracting & Excavating, Inc in Euclid, OH
2116 Miami Rd
Euclid, OH 44117
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: Y
Rural / Urban: Urban
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, 240% higher than Kingsway Contracting & Excavating, Inc's reported 5 employees, and received an average PPP loan of $234,414, 827% higher than this company's loan of $25,300.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!