PPP Loan Data — RCS Construction, Inc, East Alton, IL
RCS Construction, Inc is a corporation located at 960 E. Airline Dr in East Alton, Illinois that received a Coronavirus-related PPP loan from the SBA of $1,715,520.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 81 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:United Community Bank
RCS Construction, Inc in East Alton, IL received a Paycheck Protection Loan of $1.72M through United Community Bank, which was approved in April, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 82. 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
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, RCS Construction, Inc's 2019 payroll expenses are estimated to be at least $8.23M (not accounting for salary amounts > $100k).
Because the 81 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, RCS Construction, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,715,520
Business Information - RCS Construction, Inc in East Alton, IL
960 E. Airline Dr
East Alton, IL 62024
Highway, Street, and Bridge Construction
NAICS code 237310
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 11,483 businesses in the "Highway, Street, and Bridge Construction" industry received a total of $3.92B 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 26 employees, 68% lower than RCS Construction, Inc's reported 81 employees, and received an average PPP loan of $341,702, 80% lower than this company's loan of $1.72M.
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Footnotes & Information
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