PPP Loan Data — Ruston Paving Co Inc, Durham, NC
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
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.
Business Information - Ruston Paving Co Inc in Durham, NC
3874 S Alston Ave Suite 101
Durham, NC 27713
All Other Specialty Trade Contractors (NAICS code 238990)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional 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).
Similar Nearby Businesses Who Received PPP Funding:
Los Galvez Construction LLC
NC Stone Encounters, LLC
Nicholson Tile Inc.
J&Y Painting LLC
Simpson Electrical Inc.
JVG Plumbing Corporation
C L Downey Const Inc
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.
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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