PPP Loan Data — Scherrer Construction Co, Inc, Burlington, WI
Scherrer Construction Co, Inc
Location: Burlington, WITweet This • Search All PPP Data
Scherrer Construction Co, Inc is a corporation located at 601 Blackhawk Dr in Burlington, Wisconsin that received a Coronavirus-related PPP loan from the SBA of $2,050,100.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Town Bank, National Association
Scherrer Construction Co, Inc in Burlington, WI received a Paycheck Protection Loan of $2.05M through Town Bank, National Association, 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, Scherrer Construction Co, Inc's 2019 payroll expenses are estimated to be at least $9.84M.
Based on their reported 99 jobs retained, this equals an estimated average yearly compensation of $99,399 per employee1
Reported PPP Proceed Usage:
On the PPP application, Scherrer Construction Co, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,537,600
- Rent: $512,500
Business Information - Scherrer Construction Co, Inc in Burlington, WI
601 Blackhawk Dr
Burlington, WI 53105
New Single-Family Housing Construction (except For-Sale Builders)
NAICS code 236115
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Burlington
In the Burlington area, 15 businesses in the "New Single-Family Housing Construction (except For-Sale Builders)" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 99) and received an average PPP loan of $157,256 (compared to this company's $2.05M).
Similar Nearby Businesses Who Received PPP Funding:
Elite Improvements LLC
Keith Zwiebel Construction LLC
Custom Carpentry, Inc
K Builders LLC
TK Building And Home Improvement LLC
Buell Construction LLC
Industry PPP Comparison Statistics
Nationwide, 127,156 businesses in the "New Single-Family Housing Construction (except For-Sale Builders)" industry received a total of $5.75B 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, 95% lower than Scherrer Construction Co, Inc's reported 99 employees, and received an average PPP loan of $45,182, 98% lower than this company's loan of $2.05M.
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Footnotes & Information
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