PPP Loan Data — Simms Custom Construction, Sonoma, CA
Simms Custom Construction is a corporation located at 674 Mariano Ct in Sonoma, California that received a Coronavirus-related PPP loan from the SBA of $25,023.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Wells Fargo Bank, National Association
Simms Custom Construction in Sonoma, CA received a Paycheck Protection Loan of $25,023 through Wells Fargo 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, Simms Custom Construction's 2019 payroll expenses are estimated to be at least $120,110.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,037 per employee1
Reported PPP Proceed Usage:
On the PPP application, Simms Custom Construction reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,023
Business Information - Simms Custom Construction in Sonoma, CA
674 Mariano Ct
Sonoma, CA 95476
NAICS code 236118
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Sonoma
In the Sonoma area, 26 businesses in the "Residential Remodelers" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 3) and received an average PPP loan of $49,810 (compared to this company's $25,023).
Similar Nearby Businesses Who Received PPP Funding:
John Romeo Construction
Wine Country Builders Inc
Adept Remodel And Construction
Adolfo Mendoza Concrete Construction Inc
Mangiantini Construction Inc
Diamond C Construction Inc
Darrel D Welch DBA Dw Construction
Jon Ballard Construction, Inc
Industry PPP Comparison Statistics
Nationwide, 175,017 businesses in the "Residential Remodelers" industry received a total of $5.32B 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 3 employees, the same amount reported by Simms Custom Construction and received an average PPP loan of $30,405, 22% higher than this company's loan of $25,023.
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Footnotes & Information
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