PPP Loan Data — Shelby Erectors, Inc, Fort Lauderdale, FL
Shelby Erectors, Inc is a subchapter s corporation located at 4575 Oakes Road in Fort Lauderdale, Florida that received a Coronavirus-related PPP loan from the SBA of $2,067,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Shelby Erectors, Inc in Fort Lauderdale, FL received a Paycheck Protection Loan of $2.07M through Fairwinds CU, 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, Shelby Erectors, Inc's 2019 payroll expenses are estimated to be at least $9.92M.
Based on their reported 184 jobs retained, this equals an estimated average yearly compensation of $53,922 per employee1
Reported PPP Proceed Usage:
On the PPP application, Shelby Erectors, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,057,000
- Refinance EIDL: $10,000
Business Information - Shelby Erectors, Inc in Fort Lauderdale, FL
4575 Oakes Road
Fort Lauderdale, FL 33314
Structural Steel and Precast Concrete Contractors
NAICS code 238120
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Fort Lauderdale
In the Fort Lauderdale area, 2 businesses in the "Structural Steel and Precast Concrete Contractors" industry received a PPP loan. These local businesses reported an average of 96 employees (compared to this company's 184) and received an average PPP loan of $1,050,405 (compared to this company's $2.07M).
Similar Nearby Businesses Who Received PPP Funding:
Allpro Fabricators And Erectors Inc
Industry PPP Comparison Statistics
Nationwide, 3,902 businesses in the "Structural Steel and Precast Concrete Contractors" industry received a total of $1.02B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 20 employees, 89% lower than Shelby Erectors, Inc's reported 184 employees, and received an average PPP loan of $260,319, 87% lower than this company's loan of $2.07M.
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Footnotes & Information
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