PPP Loan Data — Phoenix Renovation Corp., Alexandria, VA
Phoenix Renovation Corp.
Entity: Subchapter S Corporation
Location: Alexandria, VATweet This • Search All PPP Data
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
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.
Business Information - Phoenix Renovation Corp. in Alexandria, VA
1319 Powhatan St
Alexandria, VA 22314
Plumbing, Heating, and Air-Conditioning Contractors (NAICS code 238220)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional 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).
Similar Nearby Businesses Who Received PPP Funding:
Thomas J Fannon And Sons Inc
Caffi Contracting Services, Inc.
Peck Plumbing LLC
Frosty's Heating & Cooling Inc
Exclusive Plumbing LLC
Energesco Mechanical LLC
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.
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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