PPP Loan Data — Long Foundation Drilling Co, Nashville, TN
Long Foundation Drilling Co is a corporation located at 3014 Brandau Rd in Nashville, Tennessee that received a Coronavirus-related PPP loan from the SBA of $1,731,400.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First United Bank and Trust Company
Long Foundation Drilling Co in Nashville, TN received a Paycheck Protection Loan of $1.73M through First United Bank and Trust Company, 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, Long Foundation Drilling Co's 2019 payroll expenses are estimated to be at least $8.31M.
Based on their reported 91 jobs retained, this equals an estimated average yearly compensation of $91,327 per employee1
Reported PPP Proceed Usage:
On the PPP application, Long Foundation Drilling Co reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,600,000
- Utilities: $12,000
- Rent: $45,000
- Health Care: $59,400
- Debt Interest: $15,000
Business Information - Long Foundation Drilling Co in Nashville, TN
3014 Brandau Rd
Nashville, TN 37205
Site Preparation Contractors
NAICS code 238910
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Nashville
In the Nashville area, 3 businesses in the "Site Preparation Contractors" industry received a PPP loan. These local businesses reported an average of 33 employees (compared to this company's 91) and received an average PPP loan of $767,406 (compared to this company's $1.73M).
Similar Nearby Businesses Who Received PPP Funding:
Frame To Finish
Strong Waterproofing, LLC
Industry PPP Comparison Statistics
Nationwide, 30,927 businesses in the "Site Preparation Contractors" industry received a total of $4.31B 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 12 employees, 87% lower than Long Foundation Drilling Co's reported 91 employees, and received an average PPP loan of $139,293, 92% lower than this company's loan of $1.73M.
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Footnotes & Information
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