PPP Loan Data — Metro Contractors & Supply, Inc, Norman, OK
Metro Contractors & Supply, Inc is a corporation located at 921 North Lahoma in Norman, Oklahoma that received a Coronavirus-related PPP loan from the SBA of $45,800.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least eight people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Metro Contractors & Supply, Inc in Norman, OK received a Paycheck Protection Loan of $45,800 through Armstrong 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, Metro Contractors & Supply, Inc's 2019 payroll expenses are estimated to be at least $219,840.
Based on their reported 8 jobs retained, this equals an estimated average yearly compensation of $27,480 per employee1
Reported PPP Proceed Usage:
On the PPP application, Metro Contractors & Supply, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $34,350
- Rent: $11,450
Business Information - Metro Contractors & Supply, Inc in Norman, OK
921 North Lahoma
Norman, OK 73069
NAICS code 236118
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Norman
In the Norman area, 23 businesses in the "Residential Remodelers" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 8) and received an average PPP loan of $39,527 (compared to this company's $45,800).
Similar Nearby Businesses Who Received PPP Funding:
Cavins Construction Group LLC
Stoneridge Enterprises, Inc
Strutton Services, LLC
Homework Construction & Remodeling LLC
J & E Homes LLC
Industry PPP Comparison Statistics
Nationwide, 175,017 businesses in the "Residential Remodelers" industry received a total of $5.32B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 3 employees, 63% lower than Metro Contractors & Supply, Inc's reported 8 employees, and received an average PPP loan of $30,405, 34% lower than this company's loan of $45,800.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!