PPP Loan Data — Procida Construction Corp, Bronx, NY
Procida Construction Corp
Location: Bronx, NYTweet This • Search All PPP Data
Procida Construction Corp is a corporation located at 456 E 173rd Street in Bronx, New York that received a Coronavirus-related PPP loan from the SBA of $1,873,100.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First Horizon Bank
Procida Construction Corp in Bronx, NY received a Paycheck Protection Loan of $1.87M through First Horizon 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 February, 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, Procida Construction Corp's 2019 payroll expenses are estimated to be at least $8.99M.
Based on their reported 102 jobs retained, this equals an estimated average yearly compensation of $88,146 per employee1
Reported PPP Proceed Usage:
On the PPP application, Procida Construction Corp reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,873,100
Business Information - Procida Construction Corp in Bronx, NY
456 E 173rd Street
Bronx, NY 10457
Commercial and Institutional Building Construction
NAICS code 236220
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Bronx
In the Bronx area, 27 businesses in the "Commercial and Institutional Building Construction" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 102) and received an average PPP loan of $89,740 (compared to this company's $1.87M).
Similar Nearby Businesses Who Received PPP Funding:
Costa Norte Construction Corp
Paladino Construction Enterprises Inc
Industry PPP Comparison Statistics
Nationwide, 78,873 businesses in the "Commercial and Institutional Building Construction" industry received a total of $12.41B 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 12 employees, 88% lower than Procida Construction Corp's reported 102 employees, and received an average PPP loan of $157,325, 92% lower than this company's loan of $1.87M.
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Footnotes & Information
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