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PPP Loan Data — Project Design LLC,
Crown Point, IN
Project Design LLC
Entity: Limited Liability Company (LLC)
Industry: Commercial and Institutional Building Construction
Location: Crown Point, IN
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Project Design LLC is a limited liability company (LLC) located at 1290 Arrowhead Ct in Crown Point, Indiana that received a Coronavirus-related PPP loan from the SBA of $3,903,857.00 in July, 2020.
$
PPP Loan Information
Loan #2164278105
Loan Size:
Jobs Retained:
18Loan Approved:
2020-07-11Loan Status:
Charged OffLender:
U.S. Bank, National AssociationProject Design LLC in Crown Point, IN received a Paycheck Protection Loan of $3.9M through U.S. Bank, National Association, which was approved in July, 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. The loan's status was last updated by the SBA in February, 2022.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 18 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 187. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Project Design LLC's 2019 payroll expenses are estimated to be at least $18.74M (not accounting for salary amounts > $100k).
Because the 18 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Project Design LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,903,857
Business Information - Project Design LLC in Crown Point, IN
1290 Arrowhead Ct
Crown Point, IN 46307
Business Industry:
Commercial and Institutional Building Construction
NAICS code 236220
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: New Business or 2 years or less
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Businesses Using Same Address:
There is one other business that received a PPP loan registered to the same address as Project Design LLC.
TL Builders LLC
New Multifamily Housing Construction (except For-Sale Builders)
Similar Companies near Crown Point
In the Crown Point area, 13 businesses in the "Commercial and Institutional Building Construction" industry received a PPP loan. These local businesses reported an average of 11 employees (compared to this company's 18) and received an average PPP loan of $387,677 (compared to this company's $3.9M).
Similar Nearby Businesses Who Received PPP Funding:
Doppler Construction Inc
Crown Point, IN
Crown Point United Methodist Church
Crown Point, IN
Hoosier Construction Materials And Specialties, Inc
Crown Point, IN
Woodbridge Construction & Carpentry Inc
Crown Point, IN
CMM Group Inc
Crown Point, IN
Integrated Construction Solutions LLC
Crown Point, IN
D.t. Carpentry, Corp
Crown Point, IN
Two Bills Tap
Crown Point, IN
Eagle Site Services LLC
Crown Point, IN
Industry PPP Comparison Statistics
Nationwide, 77,366 businesses in the "Commercial and Institutional Building Construction" industry received a total of $12.37B 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, 33% lower than Project Design LLC's reported 18 employees, and received an average PPP loan of $159,915, 96% lower than this company's loan of $3.9M.
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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. 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.
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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