PPP Loan Data — Sorensonistallations, Ogden, UT
Sorensonistallations is a corporation located at 932e Burch Creek Hollow in Ogden, Utah that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:America First FCU
Sorensonistallations in Ogden, UT received a Paycheck Protection Loan of $25,000 through America First FCU, 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, Sorensonistallations' 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Sorensonistallations reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Sorensonistallations in Ogden, UT
932e Burch Creek Hollow
Ogden, UT 84403
All Other Specialty Trade Contractors
NAICS code 238990
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Ogden
In the Ogden area, 29 businesses in the "All Other Specialty Trade Contractors" industry received a PPP loan. These local businesses reported an average of 13 employees (compared to this company's 2) and received an average PPP loan of $72,724 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Frank Mueller Granite
STW Welding & Fab
Ron J Peterson Construction In
Garage Door Utah, LLC
Can-DO Landscaping LLC
Next Generation Welding & Maintenance LLC
Rocky Mountain Fence, Inc
Industry PPP Comparison Statistics
Nationwide, 93,400 businesses in the "All Other Specialty Trade Contractors" industry received a total of $8.04B 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 8 employees, 300% higher than Sorensonistallations' reported 2 employees, and received an average PPP loan of $86,076, 244% higher than this company's loan of $25,000.
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Footnotes & Information
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