PPP Loan Data — Manning Contracting, LLC, Norwood, OH
Manning Contracting, LLC is a limited liability company (LLC) located at 2577 Duck Creek Rd in Norwood, Ohio that received a Coronavirus-related PPP loan from the SBA of $25,175.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
Manning Contracting, LLC in Norwood, OH received a Paycheck Protection Loan of $25,175 through JPMorgan Chase Bank, National Association, which was approved in May, 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, Manning Contracting, LLC's 2019 payroll expenses are estimated to be at least $120,840.
Based on their reported 60 jobs retained, this equals an estimated average yearly compensation of $2,014 per employee1
Reported PPP Proceed Usage:
On the PPP application, Manning Contracting, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $21,975
- Utilities: $200
- Rent: $3,000
Business Information - Manning Contracting, LLC in Norwood, OH
2577 Duck Creek Rd
Norwood, OH 45212
All Other Specialty Trade Contractors
NAICS code 238990
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Norwood
In the Norwood area, 11 businesses in the "All Other Specialty Trade Contractors" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 60) and received an average PPP loan of $25,307 (compared to this company's $25,175).
Similar Nearby Businesses Who Received PPP Funding:
Bulls Eye Home Services Inc
ESP Window And Tinting Graphics LLC
Kiwi Custom Contractors
Johnson & Sonz LLC
Hube Construction LLC
Industry PPP Comparison Statistics
Nationwide, 93,400 businesses in the "All Other Specialty Trade Contractors" industry received a total of $8.04B 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 8 employees, 87% lower than Manning Contracting, LLC's reported 60 employees, and received an average PPP loan of $86,076, 242% higher than this company's loan of $25,175.
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Footnotes & Information
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