PPP Loan Data — Mcgarr Excavation Inc, Portola, CA
Mcgarr Excavation Inc is a corporation located at 5941 County Road A15 Po Box 883 in Portola, California that received a Coronavirus-related PPP loan from the SBA of $46,342.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Mcgarr Excavation Inc in Portola, CA received a Paycheck Protection Loan of $46,342 through Plumas Bank, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in January, 2021.
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, Mcgarr Excavation Inc's 2019 payroll expenses are estimated to be at least $222,442.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $55,611 per employee1
Reported PPP Proceed Usage:
On the PPP application, Mcgarr Excavation Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,342
Business Information - Mcgarr Excavation Inc in Portola, CA
5941 County Road A15 Po Box 883
Portola, CA 96122
Other Heavy and Civil Engineering Construction
NAICS code 237990
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 11,233 businesses in the "Other Heavy and Civil Engineering Construction" industry received a total of $2.63B 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 17 employees, 325% higher than Mcgarr Excavation Inc's reported 4 employees, and received an average PPP loan of $234,414, 406% higher than this company's loan of $46,342.
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Footnotes & Information
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