PPP Loan Data — Solid Masonry Inc, Sweet Springs, WV
Solid Masonry Inc is a subchapter s corporation located at 949 Cove Creek Rd in Sweet Springs, West Virginia that received a Coronavirus-related PPP loan from the SBA of $45,900.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First-Citizens Bank & Trust Company
Solid Masonry Inc in Sweet Springs, WV received a Paycheck Protection Loan of $45,900 through First-Citizens Bank & Trust Company, 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 March, 2021.
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, Solid Masonry Inc's 2019 payroll expenses are estimated to be at least $220,320.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $44,064 per employee1
Reported PPP Proceed Usage:
On the PPP application, Solid Masonry Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $45,900
Business Information - Solid Masonry Inc in Sweet Springs, WV
949 Cove Creek Rd
Sweet Springs, WV 24941
NAICS code 238140
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 16,648 businesses in the "Masonry Contractors" industry received a total of $1.65B 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 9 employees, 80% higher than Solid Masonry Inc's reported 5 employees, and received an average PPP loan of $99,369, 116% higher than this company's loan of $45,900.
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Footnotes & Information
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