PPP Loan Data — L&G Concrete Construction, Mercedes, TX
L&G Concrete Construction
Location: Mercedes, TXTweet This • Search All PPP Data
L&G Concrete Construction is a corporation located at 2100 W. Expressway 83 in Mercedes, Texas that received a Coronavirus-related PPP loan from the SBA of $2,513,400.00 in April, 2020.
The company has reported itself as a Hispanic male owned business, and employed at least 250 people during the applicable loan loan period.
$ PPP Loan Information
Lender:TEXAS NATIONAL BANK
L&G Concrete Construction in Mercedes, TX received a Paycheck Protection Loan of $2.51M through TEXAS NATIONAL BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, L&G Concrete Construction's total 2019 payroll expenses were approximately $12.06M in order to qualify for the PPP loan amount received.
Based on their reported 250 jobs retained, this equals an estimated average yearly compensation of $48,257 per employee1.
Business Information - L&G Concrete Construction in Mercedes, TX
2100 W. Expressway 83
Mercedes, TX 78570
Poured Concrete Foundation and Structure Contractors (NAICS code 238110)
Business Owner Demographics
Race / Ethnicity: HISPANIC
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional District: TX-15
Industry PPP Comparison Statistics
Nationwide, 12,254 businesses in the "Poured Concrete Foundation and Structure Contractors" industry received a total of $2,172,253,420.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 14 employees, 94% lower than L&G Concrete Construction's reported 250 employees, and received an average PPP loan of $177,269, 93% lower than this company's loan of $2.51M.
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, and is published unmodified, as provided by the SBA.
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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