PPP Loan Data — O&C Construction, Inc, Memphis, TN
O&C Construction, Inc is a corporation located at 6850 Hillshire Dr, Suite 5 in Memphis, Tennessee that received a Coronavirus-related PPP loan from the SBA of $25,440.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Truist Bank d/b/a Branch Banking & Trust Co
O&C Construction, Inc in Memphis, TN received a Paycheck Protection Loan of $25,440 through Truist Bank d/b/a Branch Banking & Trust Co, which was approved in May, 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 February, 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, O&C Construction, Inc's 2019 payroll expenses are estimated to be at least $122,112.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $20,352 per employee1
Reported PPP Proceed Usage:
On the PPP application, O&C Construction, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,440
Business Information - O&C Construction, Inc in Memphis, TN
6850 Hillshire Dr, Suite 5
Memphis, TN 38133
NAICS code 238170
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 4,831 businesses in the "Siding Contractors" industry received a total of $228.83M 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 5 employees, 17% lower than O&C Construction, Inc's reported 6 employees, and received an average PPP loan of $47,366, 86% higher than this company's loan of $25,440.
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Footnotes & Information
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