PPP Loan Data — Scurto Cement Construction, LTD, Gilberts, IL
Scurto Cement Construction, LTD
Entity: Subchapter S Corporation
Location: Gilberts, ILTweet This • Search All PPP Data
Scurto Cement Construction, LTD is a subchapter s corporation located at 389 Sola Dr. in Gilberts, Illinois that received a Coronavirus-related PPP loan from the SBA of $5,871,083.00 in April, 2020.
$ PPP Loan Information
Lender:WEST SUBURBAN BANK
Scurto Cement Construction, LTD in Gilberts, IL received a Paycheck Protection Loan of $5.87M through WEST SUBURBAN BANK, which was approved in April, 2020.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 219 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 282.
Based on standard PPP eligibility rules, Scurto Cement Construction, LTD's total 2019 payroll expenses were approximately $28.18M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 219 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - Scurto Cement Construction, LTD in Gilberts, IL
389 Sola Dr.
Gilberts, IL 60136
Poured Concrete Foundation and Structure Contractors (NAICS code 238110)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: IL-06
Similar Companies near Gilberts
In the Gilberts area, 3 businesses in the "Poured Concrete Foundation and Structure Contractors" industry received a PPP loan. These local businesses reported an average of 96 employees (compared to this company's 219) and received an average PPP loan of $2,503,119 (compared to this company's $5.87M).
Similar Nearby Businesses Who Received PPP Funding:
W.J. Voz Concrete Construction
Elliot Construction Corporation
Glen Ellyn, IL
Industry PPP Comparison Statistics
Nationwide, 12,254 businesses in the "Poured Concrete Foundation and Structure Contractors" industry received a total of $2,172,253,420.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 14 employees, 94% lower than Scurto Cement Construction, LTD's reported 219 employees, and received an average PPP loan of $177,269, 97% lower than this company's loan of $5.87M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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