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PPP Loan Data — Ruston Paving Co Inc, Durham, NC

SBA PPP loan data, payroll data, and salaries for Ruston Paving Co Inc
NC

Ruston Paving Co Inc

Entity: Subchapter S Corporation

Industry: All Other Specialty Trade Contractors

Location: Durham, NC

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Ruston Paving Co Inc is a subchapter s corporation located at 3874 S Alston Ave Suite 101 in Durham, North Carolina that received a Coronavirus-related PPP loan from the SBA of $2,737,882.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.74M

Jobs Retained:

189

Loan Approved:

2020-04-30

Lender:

TRUIST BANK D/B/A BRANCH BANKING & TRUST CO

Ruston Paving Co Inc in Durham, NC received a Paycheck Protection Loan of $2.74M through TRUIST BANK D/B/A BRANCH BANKING & TRUST CO, which was approved in April, 2020.

Based on standard PPP eligibility rules, Ruston Paving Co Inc's total 2019 payroll expenses were approximately $13.14M in order to qualify for the PPP loan amount received.

Based on their reported 189 jobs retained, this equals an estimated average yearly compensation of $69,534 per employee1.

Because the loan received by Ruston Paving Co Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Ruston Paving Co Inc in Durham, NC

Ruston Paving Co Inc
3874 S Alston Ave Suite 101
Durham, NC 27713

Business Industry

All Other Specialty Trade Contractors (NAICS code 238990)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NC-04

Similar Companies near Durham

In the Durham area, 10 businesses in the "All Other Specialty Trade Contractors" industry received a PPP loan. These local businesses reported an average of 23 employees (compared to this company's 189) and received an average PPP loan of $312,660 (compared to this company's $2.74M).

Industry PPP Comparison Statistics

Nationwide, 44,474 businesses in the "All Other Specialty Trade Contractors" industry received a total of $5,068,221,395.00 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 9 employees, 95% lower than Ruston Paving Co Inc's reported 189 employees, and received an average PPP loan of $113,959, 96% lower than this company's loan of $2.74M.

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, and is published unmodified, as provided by the SBA.

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Footnotes & Information

1. 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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/ruston-paving-co-inc-durham-nc