PPP Loan Data — Larry Gingerich, Bedford, PA
Entity: Sole Proprietorship
Location: Bedford, PATweet This • Search All PPP Data
Larry Gingerich is a sole proprietorship located at Business 2208 in Bedford, Pennsylvania 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:First Commonwealth Bank
Larry Gingerich in Bedford, PA received a Paycheck Protection Loan of $25,300 through First Commonwealth Bank, 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, Larry Gingerich'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, Larry Gingerich reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,300
Business Information - Larry Gingerich in Bedford, PA
Bedford, PA 15522
Poured Concrete Foundation and Structure Contractors
NAICS code 238110
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 21,801 businesses in the "Poured Concrete Foundation and Structure Contractors" industry received a total of $3.02B 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, 160% higher than Larry Gingerich's reported 5 employees, and received an average PPP loan of $138,620, 448% higher than this company's loan of $25,300.
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Footnotes & Information
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