PPP Loan Data — Oostburg Concrete Products, Inc, Oostburg, WI
Oostburg Concrete Products, Inc is a corporation located at 110 S Business Park Dr in Oostburg, Wisconsin that received a Coronavirus-related PPP loan from the SBA of $1,585,567.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Oostburg State Bank
Oostburg Concrete Products, Inc in Oostburg, WI received a Paycheck Protection Loan of $1.59M through Oostburg State Bank, 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 January, 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, Oostburg Concrete Products, Inc's 2019 payroll expenses are estimated to be at least $7.61M.
Based on their reported 113 jobs retained, this equals an estimated average yearly compensation of $67,352 per employee1
Reported PPP Proceed Usage:
On the PPP application, Oostburg Concrete Products, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,561,125
- Utilities: $4,982
- Mortgage Interest: $6,100
- Rent: $13,360
Business Information - Oostburg Concrete Products, Inc in Oostburg, WI
110 S Business Park Dr
Oostburg, WI 53070
NAICS code 238140
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Oostburg
In the Oostburg area, 3 businesses in the "Masonry Contractors" industry received a PPP loan. These local businesses reported an average of 44 employees (compared to this company's 113) and received an average PPP loan of $588,816 (compared to this company's $1.59M).
Similar Nearby Businesses Who Received PPP Funding:
Stecker Construction LLC
Industry PPP Comparison Statistics
Nationwide, 16,648 businesses in the "Masonry Contractors" industry received a total of $1.65B 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 9 employees, 92% lower than Oostburg Concrete Products, Inc's reported 113 employees, and received an average PPP loan of $99,369, 94% lower than this company's loan of $1.59M.
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Footnotes & Information
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