PPP Loan Data — Langer Roofing & Sheet Metal Inc., Milwaukee, WI
Langer Roofing & Sheet Metal Inc. is a subchapter s corporation located at 345 S Curtis Road in Milwaukee, Wisconsin that received a Coronavirus-related PPP loan from the SBA of $2,921,000.00 in April, 2020.
$ PPP Loan Information
Lender:BMO HARRIS BANK NATIONAL ASSOCIATION
Langer Roofing & Sheet Metal Inc. in Milwaukee, WI received a Paycheck Protection Loan of $2.92M through BMO HARRIS BANK NATIONAL ASSOCIATION, which was approved in April, 2020.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 125 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 140.
Based on standard PPP eligibility rules, Langer Roofing & Sheet Metal Inc.'s total 2019 payroll expenses were approximately $14.02M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 125 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - Langer Roofing & Sheet Metal Inc. in Milwaukee, WI
345 S Curtis Road
Milwaukee, WI 53214
Roofing Contractors (NAICS code 238160)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: WI-05
Similar Companies near Milwaukee
In the Milwaukee area, 5 businesses in the "Roofing Contractors" industry received a PPP loan. These local businesses reported an average of 27 employees (compared to this company's 125) and received an average PPP loan of $605,665 (compared to this company's $2.92M).
Similar Nearby Businesses Who Received PPP Funding:
Quality Seal Roofing LLC
Real Estate Improvement Company, LLC
Freedom Tech Construction LLC
Swift Roofing, LLC
Industry PPP Comparison Statistics
Nationwide, 13,327 businesses in the "Roofing Contractors" industry received a total of $1,896,438,811.00 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 12 employees, 90% lower than Langer Roofing & Sheet Metal Inc.'s reported 125 employees, and received an average PPP loan of $142,301, 95% lower than this company's loan of $2.92M.
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.
Have FederalPay.org's open data tools been valuable? Consider donating!