PPP Loan Data — M.l. Wilburn Construction, Inc, Burlington, NC
M.l. Wilburn Construction, Inc
Location: Burlington, NCTweet This • Search All PPP Data
M.l. Wilburn Construction, Inc is a corporation located at 582 Kerr Chapel Rd in Burlington, North Carolina that received a Coronavirus-related PPP loan from the SBA of $25,300.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:The Fidelity Bank
M.l. Wilburn Construction, Inc in Burlington, NC received a Paycheck Protection Loan of $25,300 through The Fidelity 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 March, 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, M.l. Wilburn Construction, Inc's 2019 payroll expenses are estimated to be at least $121,440.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,360 per employee1
Reported PPP Proceed Usage:
On the PPP application, M.l. Wilburn Construction, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,300
Business Information - M.l. Wilburn Construction, Inc in Burlington, NC
582 Kerr Chapel Rd
Burlington, NC 27217
New Single-Family Housing Construction (except For-Sale Builders)
NAICS code 236115
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Burlington
In the Burlington area, 10 businesses in the "New Single-Family Housing Construction (except For-Sale Builders)" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 4) and received an average PPP loan of $31,537 (compared to this company's $25,300).
Similar Nearby Businesses Who Received PPP Funding:
Mondragon Construction LLC
Concept Builders Inc
Fifth Generation Solutions Inc
M. L. Wilburn Construction Inc
Adam T Weaver Construction Inc
Industry PPP Comparison Statistics
Nationwide, 127,156 businesses in the "New Single-Family Housing Construction (except For-Sale Builders)" industry received a total of $5.75B 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 5 employees, 25% higher than M.l. Wilburn Construction, Inc's reported 4 employees, and received an average PPP loan of $45,182, 79% higher than this company's loan of $25,300.
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