PPP Loan Data — Olson Precast Company, Las Vegas, NV
Olson Precast Company is a corporation located at 2810 N Nellis Blvd Ste 100 in Las Vegas, Nevada that received a Coronavirus-related PPP loan from the SBA of $1,957,983.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
Olson Precast Company in Las Vegas, NV received a Paycheck Protection Loan of $1.96M through Bank of America, National Association, which was approved in April, 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 May, 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, Olson Precast Company's 2019 payroll expenses are estimated to be at least $9.4M.
Based on their reported 105 jobs retained, this equals an estimated average yearly compensation of $89,508 per employee1
Reported PPP Proceed Usage:
On the PPP application, Olson Precast Company reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,957,983
Business Information - Olson Precast Company in Las Vegas, NV
2810 N Nellis Blvd Ste 100
Las Vegas, NV 89115
Other Concrete Product Manufacturing
NAICS code 327390
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Las Vegas
In the Las Vegas area, 2 businesses in the "Other Concrete Product Manufacturing" industry received a PPP loan. These local businesses reported an average of 74 employees (compared to this company's 105) and received an average PPP loan of $1,112,258 (compared to this company's $1.96M).
Similar Nearby Businesses Who Received PPP Funding:
Fiore Stone Inc
Las Vegas, NV
Industry PPP Comparison Statistics
Nationwide, 1,600 businesses in the "Other Concrete Product Manufacturing" industry received a total of $367.53M 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 22 employees, 79% lower than Olson Precast Company's reported 105 employees, and received an average PPP loan of $229,704, 88% lower than this company's loan of $1.96M.
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Footnotes & Information
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