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PPP Loan Data — Providence Construction Inc,
Lafayette, IN
Providence Construction Inc
Entity: Subchapter S Corporation
Industry: Commercial and Institutional Building Construction
Location: Lafayette, IN
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Providence Construction Inc is a subchapter s corporation located at 1400 S 800 E in Lafayette, Indiana that received a Coronavirus-related PPP loan from the SBA of $100,217.00 in March, 2021.
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PPP Loan Information
Loan #6809618510
Loan Size:
Jobs Retained:
9Loan Approved:
2021-03-04Loan Status:
Ongoing LoanLender:
Purdue FCUProvidence Construction Inc in Lafayette, IN received a Paycheck Protection Loan of $100,217 through Purdue FCU, which was approved in March, 2021.
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
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, Providence Construction Inc's 2019 payroll expenses are estimated to be at least $481,042.
Based on their reported 9 jobs retained, this equals an estimated average yearly compensation of $53,449 per employee1
Reported PPP Proceed Usage:
On the PPP application, Providence Construction Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $100,217
Business Information - Providence Construction Inc in Lafayette, IN
1400 S 800 E
Lafayette, IN 47905
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: Existing or more than 2 years old
LMI Zone: Y
HUBZone: N
Rural / Urban: Urban
Similar Companies near Lafayette
In the Lafayette area, 14 businesses in the "Commercial and Institutional Building Construction" industry received a PPP loan. These local businesses reported an average of 10 employees (compared to this company's 9) and received an average PPP loan of $111,207 (compared to this company's $100,217).
Similar Nearby Businesses Who Received PPP Funding:
Bedrock LLC
Lafayette, IN
Premier Services Inc
West Lafayette, IN
David Stout Enterprises LLC
West Lafayette, IN
Casimir Jackson
Lafayette, IN
Chelonda Howery
West Lafayette, IN
Bill Blossom
Lafayette, IN
Skiage Enterprises Inc
West Lafayette, IN
SLY Construction LLC
West Lafayette, IN
Industry PPP Comparison Statistics
Nationwide, 77,396 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% higher than Providence Construction Inc's reported 9 employees, and received an average PPP loan of $159,889, 60% higher than this company's loan of $100,217.
Providence Construction Inc
Entity: Subchapter S Corporation
Industry: New Single-Family Housing Construction (except For-Sale Builders)
Location: Lafayette, IN
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Providence Construction Inc is a subchapter s corporation located at 1400 S 800 East in Lafayette, Indiana that received a Coronavirus-related PPP loan from the SBA of $68,762.00 in April, 2020.
$
PPP Loan Information
Loan #4550967101
Loan Size:
Jobs Retained:
9Loan Approved:
2020-04-13Loan Status:
Paid in Full or ForgivenLender:
Purdue FCUProvidence Construction Inc in Lafayette, IN received a Paycheck Protection Loan of $68,762 through Purdue FCU, 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 January, 2021.
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, Providence Construction Inc's 2019 payroll expenses are estimated to be at least $330,058.
Based on their reported 9 jobs retained, this equals an estimated average yearly compensation of $36,673 per employee1
Reported PPP Proceed Usage:
On the PPP application, Providence Construction Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $68,580
- Utilities: $181
Business Information - Providence Construction Inc in Lafayette, IN
1400 S 800 East
Lafayette, IN 47905
Business Industry:
New Single-Family Housing Construction (except For-Sale Builders)
NAICS code 236115
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Lafayette
In the Lafayette area, 33 businesses in the "New Single-Family Housing Construction (except For-Sale Builders)" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 9) and received an average PPP loan of $63,989 (compared to this company's $68,762).
Similar Nearby Businesses Who Received PPP Funding:
David Watkins Homes Inc
Lafayette, IN
Fitzpatrick & Associates Inc
West Lafayette, IN
Henry Ervin
Lafayette, IN
Bender Construction Company, Inc
Lafayette, IN
Interactive Solutions LLC
Lafayette, IN
Klove Konstruction
Lafayette, IN
Newlin Homes LLC
Lafayette, IN
S Brown Construction Co
Lafayette, IN
Christina Welsh
Lafayette, IN
Industry PPP Comparison Statistics
Nationwide, 125,433 businesses in the "New Single-Family Housing Construction (except For-Sale Builders)" industry received a total of $5.71B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 5 employees, 44% lower than Providence Construction Inc's reported 9 employees, and received an average PPP loan of $45,486, 34% lower than this company's loan of $68,762.
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.
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