PPP Loan Data — Setterlin Building Company, Columbus, OH
Setterlin Building Company
Location: Columbus, OHTweet This • Search All PPP Data
Setterlin Building Company is a corporation located at 560 Harmon Ave. in Columbus, Ohio that received a Coronavirus-related PPP loan from the SBA of $1,757,350.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 81 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:The Huntington National Bank
Setterlin Building Company in Columbus, OH received a Paycheck Protection Loan of $1.76M through The Huntington National Bank, which was approved in April, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 84. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, Setterlin Building Company's 2019 payroll expenses are estimated to be at least $8.44M (not accounting for salary amounts > $100k).
Because the 81 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Setterlin Building Company reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,757,350
Business Information - Setterlin Building Company in Columbus, OH
560 Harmon Ave.
Columbus, OH 43223
New Single-Family Housing Construction (except For-Sale Builders)
NAICS code 236115
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Columbus
In the Columbus area, 10 businesses in the "New Single-Family Housing Construction (except For-Sale Builders)" industry received a PPP loan. These local businesses reported an average of 13 employees (compared to this company's 81) and received an average PPP loan of $232,182 (compared to this company's $1.76M).
Similar Nearby Businesses Who Received PPP Funding:
Fabulous Roofing LLC
Mills Builders, Inc
360 Builders LLC
WB Construction Products
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, 94% lower than Setterlin Building Company's reported 81 employees, and received an average PPP loan of $45,182, 97% lower than this company's loan of $1.76M.
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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