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PPP Loan Data — Novo Construction,
Menlo Park, CA
Novo Construction
Entity: Corporation
Industry: Commercial and Institutional Building Construction
Location: Menlo Park, CA
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Novo Construction is a corporation located at 1460 O'brien Drive in Menlo Park, California that received a Coronavirus-related PPP loan from the SBA of $3,000,000.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
150Loan Approved:
2020-04-08Lender:
FREMONT BANKNovo Construction received a Paycheck Protection Loan of $3M through FREMONT BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Novo Construction's total 2019 payroll expenses were approximately $14.4M in order to qualify for the PPP loan amount received.
Based on their reported 150 jobs retained, this equals an estimated average yearly compensation of $96,000 per employee1.
Business Information - Novo Construction in Menlo Park, CA
1460 O'brien Drive
Menlo Park, CA 94025
Business Industry
Commercial and Institutional Building Construction (NAICS code 236220)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: CA-14Similar Companies near Menlo Park
In the Menlo Park area, 5 businesses in the "Commercial and Institutional Building Construction" industry received a PPP loan. These local businesses reported an average of 40 employees (compared to this company's 150) and received an average PPP loan of $847,986 (compared to this company's $3M).
Similar Nearby Businesses Who Received PPP Funding:
Salus LLC
Los Altos, CA
Lovazzano Mechanical, Inc
Menlo Park, CA
Wenke Construction, Inc.
Menlo Park, CA
Samuel Sinnott And Company, Architecture And Construction
Menlo Park, CA
Industry PPP Comparison Statistics
Nationwide, 39,925 businesses in the "Commercial and Institutional Building Construction" industry received a total of $8,114,153,480.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 13 employees, 91% lower than Novo Construction's reported 150 employees, and received an average PPP loan of $203,235, 93% lower than this company's loan of $3M.
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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