PPP Loan Data — Rebar Erection, Inc, Marietta, GA
Rebar Erection, Inc is a corporation located at 50 Lott Ave in Marietta, Georgia that received a Coronavirus-related PPP loan from the SBA of $2,441,963.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Rebar Erection, Inc in Marietta, GA received a Paycheck Protection Loan of $2.44M through Synovus Bank, which was approved in April, 2020.
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, Rebar Erection, Inc's 2019 payroll expenses are estimated to be at least $11.72M.
Based on their reported 195 jobs retained, this equals an estimated average yearly compensation of $60,110 per employee1
Reported PPP Proceed Usage:
On the PPP application, Rebar Erection, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,441,963
Business Information - Rebar Erection, Inc in Marietta, GA
50 Lott Ave
Marietta, GA 30067
Structural Steel and Precast Concrete Contractors
NAICS code 238120
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Marietta
In the Marietta area, 4 businesses in the "Structural Steel and Precast Concrete Contractors" industry received a PPP loan. These local businesses reported an average of 69 employees (compared to this company's 195) and received an average PPP loan of $843,791 (compared to this company's $2.44M).
Similar Nearby Businesses Who Received PPP Funding:
White Hawk Inc
Industry PPP Comparison Statistics
Nationwide, 3,902 businesses in the "Structural Steel and Precast Concrete Contractors" industry received a total of $1.02B 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 20 employees, 90% lower than Rebar Erection, Inc's reported 195 employees, and received an average PPP loan of $260,319, 89% lower than this company's loan of $2.44M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!