PPP Loan Data — Shiel Sexton Company, Inc., Indianapolis, IN
Shiel Sexton Company, Inc.
Entity: Subchapter S Corporation
Location: Indianapolis, INTweet This • Search All PPP Data
Shiel Sexton Company, Inc. is a subchapter s corporation located at 902 North Capitol Avenue in Indianapolis, Indiana that received a Coronavirus-related PPP loan from the SBA of $6,661,563.00 in April, 2020.
$ PPP Loan Information
Lender:JPMORGAN CHASE BANK, NATIONAL ASSOCIATION
Shiel Sexton Company, Inc. received a Paycheck Protection Loan of $6.66M through JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, 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 35 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 320.
Based on standard PPP eligibility rules, Shiel Sexton Company, Inc.'s total 2019 payroll expenses were approximately $31.98M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 35 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - Shiel Sexton Company, Inc. in Indianapolis, IN
902 North Capitol Avenue
Indianapolis, IN 46204
Commercial and Institutional Building Construction (NAICS code 236220)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: IN-07
Similar Companies near Indianapolis
In the Indianapolis area, 11 businesses in the "Commercial and Institutional Building Construction" industry received a PPP loan. These local businesses reported an average of 27 employees (compared to this company's 35) and received an average PPP loan of $940,139 (compared to this company's $6.66M).
Similar Nearby Businesses Who Received PPP Funding:
J L Fox Inc
Global Constructors, Inc.
Gridly Interiors Inc
Venture Restoration LLC
Stevens Property Group LLC
Inline Painting LLC
The Skillman Corp
Emergent Construction LLC
Industry PPP Comparison Statistics
Nationwide, 39,925 businesses in the "Commercial and Institutional Building Construction" industry received a total of $8,114,153,480.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 13 employees, 63% lower than Shiel Sexton Company, Inc.'s reported 35 employees, and received an average PPP loan of $203,235, 97% lower than this company's loan of $6.66M.
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.
Have FederalPay.org's open data tools been valuable? Consider donating!