PPP Loan Data — Myers & Sons Construction LLC, Sacramento, CA
Myers & Sons Construction LLC is a corporation located at 4600 Northgate Blvd Ste 100 in Sacramento, California that received a Coronavirus-related PPP loan from the SBA of $1,936,780.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
Myers & Sons Construction LLC in Sacramento, CA received a Paycheck Protection Loan of $1.94M through Bank of America, National Association, 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, Myers & Sons Construction LLC's 2019 payroll expenses are estimated to be at least $9.3M.
Based on their reported 96 jobs retained, this equals an estimated average yearly compensation of $96,839 per employee1
Reported PPP Proceed Usage:
On the PPP application, Myers & Sons Construction LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,936,780
Business Information - Myers & Sons Construction LLC in Sacramento, CA
4600 Northgate Blvd Ste 100
Sacramento, CA 95834
Highway, Street, and Bridge Construction
NAICS code 237310
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Sacramento
In the Sacramento area, 3 businesses in the "Highway, Street, and Bridge Construction" industry received a PPP loan. These local businesses reported an average of 100 employees (compared to this company's 96) and received an average PPP loan of $2,315,273 (compared to this company's $1.94M).
Similar Nearby Businesses Who Received PPP Funding:
Vic's Quality Construction Inc
Myers & Sons Construction LP
Industry PPP Comparison Statistics
Nationwide, 11,483 businesses in the "Highway, Street, and Bridge Construction" industry received a total of $3.92B 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 26 employees, 73% lower than Myers & Sons Construction LLC's reported 96 employees, and received an average PPP loan of $341,702, 82% lower than this company's loan of $1.94M.
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Footnotes & Information
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