PPP Loan Data — Meridian Engineering, Inc, Tucson, AZ
Meridian Engineering, Inc is a subchapter s corporation located at 3855 N Business Center Dr in Tucson, Arizona that received a Coronavirus-related PPP loan from the SBA of $1,549,823.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Commerce Bank of Arizona
Meridian Engineering, Inc in Tucson, AZ received a Paycheck Protection Loan of $1.55M through Commerce Bank of Arizona, 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 May, 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, Meridian Engineering, Inc's 2019 payroll expenses are estimated to be at least $7.44M.
Based on their reported 294 jobs retained, this equals an estimated average yearly compensation of $25,303 per employee1
Reported PPP Proceed Usage:
On the PPP application, Meridian Engineering, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,549,823
Business Information - Meridian Engineering, Inc in Tucson, AZ
3855 N Business Center Dr
Tucson, AZ 85705
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: Y
Rural / Urban: Urban
Similar Companies near Tucson
In the Tucson area, 5 businesses in the "Other Heavy and Civil Engineering Construction" industry received a PPP loan. These local businesses reported an average of 106 employees (compared to this company's 294) and received an average PPP loan of $758,579 (compared to this company's $1.55M).
Similar Nearby Businesses Who Received PPP Funding:
Meridian Engineering Co
M. Anderson Construction Corp
Arizona Trail Association
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, 94% lower than Meridian Engineering, Inc's reported 294 employees, and received an average PPP loan of $234,414, 85% lower than this company's loan of $1.55M.
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Footnotes & Information
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