PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Spengler Construction & Masonry Inc, Delray Beach, FL

ALERT: There are 2 PPP loans for a total of $897,000 in our database for businesses with the name "Spengler Construction & Masonry Inc" in Delray Beach, FL. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Spengler Construction & Masonry Inc
FL

Spengler Construction & Masonry Inc

Entity: Subchapter S Corporation

Industry: Masonry Contractors

Location: Delray Beach, FL

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Spengler Construction & Masonry Inc is a subchapter s corporation located at 382 Ne 3rd Ave in Delray Beach, Florida that received a Coronavirus-related PPP loan from the SBA of $398,000.00 in February, 2021.

$ PPP Loan Information
Loan #4221598506

Loan Size:

$398,000

Jobs Retained:

38

Loan Approved:

2021-02-25

Loan Status:

Paid in Full or Forgiven

Lender:

Truist Bank

Spengler Construction & Masonry Inc in Delray Beach, FL received a Paycheck Protection Loan of $398,000 through Truist Bank, which was approved in February, 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 December, 2021.

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 More
Understanding 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 More

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, Spengler Construction & Masonry Inc's 2019 payroll expenses are estimated to be at least $1.91M.

Based on their reported 38 jobs retained, this equals an estimated average yearly compensation of $50,274 per employee1

Reported PPP Proceed Usage:

On the PPP application, Spengler Construction & Masonry Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $397,997
  • Utilities: $1

Business Information - Spengler Construction & Masonry Inc in Delray Beach, FL

Spengler Construction & Masonry Inc
382 Ne 3rd Ave
Delray Beach, FL 33444

Business Industry:
Masonry Contractors
NAICS code 238140

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: Y

HUBZone: Y

Rural / Urban: Urban

Palm Beach County, FL — SBA Office 0455 — Congressional District: FL-21

Similar Companies near Delray Beach

In the Delray Beach area, 4 businesses in the "Masonry Contractors" industry received a PPP loan. These local businesses reported an average of 17 employees (compared to this company's 38) and received an average PPP loan of $193,767 (compared to this company's $398,000).

Industry PPP Comparison Statistics

Nationwide, 16,405 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 10 employees, 74% lower than Spengler Construction & Masonry Inc's reported 38 employees, and received an average PPP loan of $100,509, 75% lower than this company's loan of $398,000.

SBA PPP loan data, payroll data, and salaries for Spengler Construction & Masonry Inc
FL

Spengler Construction & Masonry Inc

Entity: Subchapter S Corporation

Industry: Commercial and Institutional Building Construction

Location: Delray Beach, FL

Search All PPP Data

Spengler Construction & Masonry Inc is a subchapter s corporation located at 382 Ne 3rd Avenue in Delray Beach, Florida that received a Coronavirus-related PPP loan from the SBA of $499,000.00 in April, 2020.

$ PPP Loan Information
Loan #6917427110

Loan Size:

$499,000

Jobs Retained:

40

Loan Approved:

2020-04-14

Loan Status:

Paid in Full or Forgiven

Lender:

Truist Bank

Spengler Construction & Masonry Inc in Delray Beach, FL received a Paycheck Protection Loan of $499,000 through Truist 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 April, 2021.

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 More
Understanding 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 More

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, Spengler Construction & Masonry Inc's 2019 payroll expenses are estimated to be at least $2.4M.

Based on their reported 40 jobs retained, this equals an estimated average yearly compensation of $59,880 per employee1

Reported PPP Proceed Usage:

On the PPP application, Spengler Construction & Masonry Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $499,000

Business Information - Spengler Construction & Masonry Inc in Delray Beach, FL

Spengler Construction & Masonry Inc
382 Ne 3rd Avenue
Delray Beach, FL 33444

Business Industry:
Commercial and Institutional Building Construction
NAICS code 236220

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: Y

HUBZone: Y

Rural / Urban: Urban

Palm Beach County, FL — SBA Office 0455 — Congressional District: FL-21

Similar Companies near Delray Beach

In the Delray Beach area, 23 businesses in the "Commercial and Institutional Building Construction" industry received a PPP loan. These local businesses reported an average of 39 employees (compared to this company's 40) and received an average PPP loan of $567,750 (compared to this company's $499,000).

Industry PPP Comparison Statistics

Nationwide, 77,367 businesses in the "Commercial and Institutional Building Construction" industry received a total of $12.37B 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, 70% lower than Spengler Construction & Masonry Inc's reported 40 employees, and received an average PPP loan of $159,913, 68% lower than this company's loan of $499,000.

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.

Search FederalPay's Full PPP Loan Database

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.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/spengler-construction-masonry-inc-delray-beach-fl