PPP Loan Data — Northwest Concrete Products Inc, Woodward, OK
Northwest Concrete Products Inc is a sole proprietorship located at 1125 40th Street Suite B in Woodward, Oklahoma that received a Coronavirus-related PPP loan from the SBA of $2,401,100.00 in April, 2020.
The company has reported itself as a White owned business, and employed at least 128 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Northwest Concrete Products Inc in Woodward, OK received a Paycheck Protection Loan of $2.4M through MidFirst 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, Northwest Concrete Products Inc's 2019 payroll expenses are estimated to be at least $11.53M.
Based on their reported 128 jobs retained, this equals an estimated average yearly compensation of $90,041 per employee1
Reported PPP Proceed Usage:
On the PPP application, Northwest Concrete Products Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,401,100
Business Information - Northwest Concrete Products Inc in Woodward, OK
1125 40th Street Suite B
Woodward, OK 73801
General Freight Trucking, Local
NAICS code 484110
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Woodward
In the Woodward area, 53 businesses in the "General Freight Trucking, Local" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 128) and received an average PPP loan of $78,494 (compared to this company's $2.4M).
Similar Nearby Businesses Who Received PPP Funding:
David Parada Jr
Weisz Services LLC
Mike's Trucking Company
D&A Trucking LLC
Juan Michel Altamirano
Industry PPP Comparison Statistics
Nationwide, 175,867 businesses in the "General Freight Trucking, Local" industry received a total of $6.6B 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 4 employees, 97% lower than Northwest Concrete Products Inc's reported 128 employees, and received an average PPP loan of $37,520, 98% lower than this company's loan of $2.4M.
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Footnotes & Information
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