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PPP Loan Data — Morgan Concrete Company,
Toccoa, GA
Morgan Concrete Company
Entity: Corporation
Industry: Ready-Mix Concrete Manufacturing
Location: Toccoa, GA
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Morgan Concrete Company is a corporation located at 1216 Falls Road in Toccoa, Georgia that received a Coronavirus-related PPP loan from the SBA of $2,897,970.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
194Loan Approved:
2020-04-07Lender:
FIRST-CITIZENS BANK & TRUST COMPANYMorgan Concrete Company received a Paycheck Protection Loan of $2.9M through FIRST-CITIZENS BANK & TRUST COMPANY, which was approved in April, 2020.
Based on standard PPP eligibility rules, Morgan Concrete Company's total 2019 payroll expenses were approximately $13.91M in order to qualify for the PPP loan amount received.
Based on their reported 194 jobs retained, this equals an estimated average yearly compensation of $71,702 per employee1.
Business Information - Morgan Concrete Company in Toccoa, GA
1216 Falls Road
Toccoa, GA 30577
Business Industry
Ready-Mix Concrete Manufacturing (NAICS code 327320)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: GA-09Industry PPP Comparison Statistics
Nationwide, 1,205 businesses in the "Ready-Mix Concrete Manufacturing" industry received a total of $443,693,471.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 26 employees, 87% lower than Morgan Concrete Company's reported 194 employees, and received an average PPP loan of $368,210, 87% lower than this company's loan of $2.9M.
FederalPay's PPP Information Policy
Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.
All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA.
Footnotes & Information
1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.
2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.
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