PPP Loan Data — Orco Steel LLC, Pasadena, TX
Orco Steel LLC is a limited liability company (LLC) located at 2001 John St Ste A in Pasadena, Texas that received a Coronavirus-related PPP loan from the SBA of $2,649,222.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
Orco Steel LLC in Pasadena, TX received a Paycheck Protection Loan of $2.65M through JPMorgan Chase Bank, National Association, which was approved in April, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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, Orco Steel LLC's 2019 payroll expenses are estimated to be at least $12.72M.
Based on their reported 311 jobs retained, this equals an estimated average yearly compensation of $40,888 per employee1
Reported PPP Proceed Usage:
On the PPP application, Orco Steel LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,649,222
Business Information - Orco Steel LLC in Pasadena, TX
2001 John St Ste A
Pasadena, TX 77502
Highway, Street, and Bridge Construction
NAICS code 237310
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Pasadena
In the Pasadena area, 3 businesses in the "Highway, Street, and Bridge Construction" industry received a PPP loan. These local businesses reported an average of 231 employees (compared to this company's 311) and received an average PPP loan of $1,898,536 (compared to this company's $2.65M).
Similar Nearby Businesses Who Received PPP Funding:
Flores Concrete Contractors Inc
SER Construction Partners, LLC
Industry PPP Comparison Statistics
Nationwide, 11,483 businesses in the "Highway, Street, and Bridge Construction" industry received a total of $3.92B 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 26 employees, 92% lower than Orco Steel LLC's reported 311 employees, and received an average PPP loan of $341,702, 87% lower than this company's loan of $2.65M.
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Footnotes & Information
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