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PPP Loan Data — Phoenix Renovation Corp., Alexandria, VA

SBA PPP loan data, payroll data, and salaries for Phoenix Renovation Corp.
VA

Phoenix Renovation Corp.

Entity: Subchapter S Corporation

Industry: Plumbing, Heating, and Air-Conditioning Contractors

Location: Alexandria, VA

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Phoenix Renovation Corp. is a subchapter s corporation located at 1319 Powhatan St in Alexandria, Virginia that received a Coronavirus-related PPP loan from the SBA of $2,479,300.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.48M

Jobs Retained:

162

Loan Approved:

2020-04-09

Lender:

TRUIST BANK D/B/A BRANCH BANKING & TRUST CO

Phoenix Renovation Corp. in Alexandria, VA received a Paycheck Protection Loan of $2.48M through TRUIST BANK D/B/A BRANCH BANKING & TRUST CO, which was approved in April, 2020.

Based on standard PPP eligibility rules, Phoenix Renovation Corp.'s total 2019 payroll expenses were approximately $11.9M in order to qualify for the PPP loan amount received.

Based on their reported 162 jobs retained, this equals an estimated average yearly compensation of $73,461 per employee1.

Because the loan received by Phoenix Renovation Corp. is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Phoenix Renovation Corp. in Alexandria, VA

Phoenix Renovation Corp.
1319 Powhatan St
Alexandria, VA 22314

Business Industry

Plumbing, Heating, and Air-Conditioning Contractors (NAICS code 238220)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: VA-08

Similar Companies near Alexandria

In the Alexandria area, 7 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a PPP loan. These local businesses reported an average of 34 employees (compared to this company's 162) and received an average PPP loan of $536,814 (compared to this company's $2.48M).

Industry PPP Comparison Statistics

Nationwide, 60,482 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a total of $9,373,583,135.00 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 11 employees, 93% lower than Phoenix Renovation Corp.'s reported 162 employees, and received an average PPP loan of $154,981, 94% lower than this company's loan of $2.48M.

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, and is published unmodified, as provided by the SBA.

Search FederalPay's Full PPP Loan Database

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/phoenix-renovation-corp-alexandria-va