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PPP Loan Data — Site Improvements Inc,
Salem, NH
Site Improvements Inc
Entity: Corporation
Industry: Site Preparation Contractors
Location: Salem, NH
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Site Improvements Inc is a corporation located at 7 Apollo Way in Salem, New Hampshire that received a Coronavirus-related PPP loan from the SBA of $106,317.00 in January, 2021.
$
PPP Loan Information
Loan #1751548310
Loan Size:
Jobs Retained:
7Loan Approved:
2021-01-19Loan Status:
Paid in Full or ForgivenLender:
Methuen Co-Operative BankSite Improvements Inc in Salem, NH received a Paycheck Protection Loan of $106,317 through Methuen Co-Operative Bank, which was approved in January, 2021.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in January, 2022.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Site Improvements Inc's 2019 payroll expenses are estimated to be at least $510,322.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $72,903 per employee1
Reported PPP Proceed Usage:
On the PPP application, Site Improvements Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $106,315
- Utilities: $1
Business Information - Site Improvements Inc in Salem, NH
7 Apollo Way
Salem, NH 3079
Business Industry:
Site Preparation Contractors
NAICS code 238910
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Salem
In the Salem area, 11 businesses in the "Site Preparation Contractors" industry received a PPP loan. These local businesses reported an average of 51 employees (compared to this company's 7) and received an average PPP loan of $802,385 (compared to this company's $106,317).
Similar Nearby Businesses Who Received PPP Funding:
Inspired Ornamental LLC
Salem, NH
Spofford Excavation Enterprises, LLC
Salem, NH
Imperial Earthwork Inc
Salem, NH
Select Demo Services, LLC
Salem, NH
George E. Merrill & Son Inc
Salem, NH
K-Town Disposal LLC
Salem, NH
Select Spray Systems, LLC
Salem, NH
GM. Drilling & Blasting, Inc
Salem, NH
Select Paint And Finishes LLC
Salem, NH
Industry PPP Comparison Statistics
Nationwide, 30,773 businesses in the "Site Preparation Contractors" industry received a total of $4.3B 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 12 employees, 71% higher than Site Improvements Inc's reported 7 employees, and received an average PPP loan of $139,838, 32% higher than this company's loan of $106,317.
Site Improvements, Inc
Entity: Corporation
Industry: Site Preparation Contractors
Location: Salem, NH
Tweet This
•
Search All PPP Data
Site Improvements, Inc is a corporation located at 7 Apollo Way in Salem, New Hampshire that received a Coronavirus-related PPP loan from the SBA of $106,317.00 in April, 2020.
$
PPP Loan Information
Loan #1771517106
Loan Size:
Jobs Retained:
5Loan Approved:
2020-04-10Loan Status:
Paid in Full or ForgivenLender:
Methuen Co-Operative BankSite Improvements, Inc in Salem, NH received a Paycheck Protection Loan of $106,317 through Methuen Co-Operative Bank, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in February, 2021.
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 5 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.The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 5. 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
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Site Improvements, Inc's 2019 payroll expenses are estimated to be at least $510,322 (not accounting for salary amounts > $100k).
Because the 5 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, Site Improvements, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $106,317
Business Information - Site Improvements, Inc in Salem, NH
7 Apollo Way
Salem, NH 3079
Business Industry:
Site Preparation Contractors
NAICS code 238910
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Salem
In the Salem area, 11 businesses in the "Site Preparation Contractors" industry received a PPP loan. These local businesses reported an average of 51 employees (compared to this company's 5) and received an average PPP loan of $802,385 (compared to this company's $106,317).
Similar Nearby Businesses Who Received PPP Funding:
Inspired Ornamental LLC
Salem, NH
Spofford Excavation Enterprises, LLC
Salem, NH
Imperial Earthwork Inc
Salem, NH
Select Demo Services, LLC
Salem, NH
George E. Merrill & Son Inc
Salem, NH
K-Town Disposal LLC
Salem, NH
Select Spray Systems, LLC
Salem, NH
GM. Drilling & Blasting, Inc
Salem, NH
Select Paint And Finishes LLC
Salem, NH
Industry PPP Comparison Statistics
Nationwide, 30,773 businesses in the "Site Preparation Contractors" industry received a total of $4.3B 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 12 employees, 140% higher than Site Improvements, Inc's reported 5 employees, and received an average PPP loan of $139,838, 32% higher than this company's loan of $106,317.
FederalPay's PPP Information Policy
Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.
All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.
2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.
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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