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PPP Loan Data — Solpac Construction, Inc,
San Diego, CA
Solpac Construction, Inc
Entity: Corporation
Industry: Commercial and Institutional Building Construction
Location: San Diego, CA
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Solpac Construction, Inc is a corporation located at 2424 Congress Street in San Diego, California that received a Coronavirus-related PPP loan from the SBA of $3,080,095.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
160Loan Approved:
2020-04-11Lender:
MUFG UNION BANK, NATIONAL ASSOCIATIONSolpac Construction, Inc received a Paycheck Protection Loan of $3.08M through MUFG UNION BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Solpac Construction, Inc's total 2019 payroll expenses were approximately $14.78M in order to qualify for the PPP loan amount received.
Based on their reported 160 jobs retained, this equals an estimated average yearly compensation of $92,403 per employee1.
Business Information - Solpac Construction, Inc in San Diego, CA
2424 Congress Street
San Diego, CA 92110
Business Industry
Commercial and Institutional Building Construction (NAICS code 236220)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: CA-52Similar Companies near San Diego
In the San Diego area, 23 businesses in the "Commercial and Institutional Building Construction" industry received a PPP loan. These local businesses reported an average of 22 employees (compared to this company's 160) and received an average PPP loan of $376,593 (compared to this company's $3.08M).
Similar Nearby Businesses Who Received PPP Funding:
Mendes Construction, Inc.
San Diego, CA
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Rhino_Group_Construction,_Inc.
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Zigman/Shields General Contractors
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Walter E. Fiedler, Inc.
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Diversified Construction Technologies, Inc.
San Diego, CA
Calderon Builders, Inc.
San Diego, CA
Unique Building Group, Inc.
San Diego, CA
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, 92% lower than Solpac Construction, Inc's reported 160 employees, and received an average PPP loan of $203,235, 93% lower than this company's loan of $3.08M.
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.
Footnotes & Information
1. 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.
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