PPP Loan Data — Soundcrete Contractors, Monrovia, CA
Location: Monrovia, CATweet This • Search All PPP Data
Soundcrete Contractors is a corporation located at 135 E. Railroad Ave. in Monrovia, California that received a Coronavirus-related PPP loan from the SBA of $1,611,400.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Harvest Small Business Finance, LLC
Soundcrete Contractors in Monrovia, CA received a Paycheck Protection Loan of $1.61M through Harvest Small Business Finance, LLC, 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, Soundcrete Contractors' 2019 payroll expenses are estimated to be at least $7.73M.
Based on their reported 148 jobs retained, this equals an estimated average yearly compensation of $52,262 per employee1
Reported PPP Proceed Usage:
On the PPP application, Soundcrete Contractors reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,611,400
Business Information - Soundcrete Contractors in Monrovia, CA
135 E. Railroad Ave.
Monrovia, CA 91016
Commercial and Institutional Building Construction
NAICS code 236220
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Monrovia
In the Monrovia area, 13 businesses in the "Commercial and Institutional Building Construction" industry received a PPP loan. These local businesses reported an average of 35 employees (compared to this company's 148) and received an average PPP loan of $394,857 (compared to this company's $1.61M).
Similar Nearby Businesses Who Received PPP Funding:
Jamm Foods Inc
Wpic Construction LLC
J A Urban Inc
Eaton Construction Co Inc
The Hale Corporation
Industry PPP Comparison Statistics
Nationwide, 78,873 businesses in the "Commercial and Institutional Building Construction" industry received a total of $12.41B 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, 92% lower than Soundcrete Contractors' reported 148 employees, and received an average PPP loan of $157,325, 90% lower than this company's loan of $1.61M.
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Footnotes & Information
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