PPP Loan Data — Storybound Construction, Inc, Hayes, VA
Storybound Construction, Inc
Location: Hayes, VATweet This • Search All PPP Data
Storybound Construction, Inc is a corporation located at 10013 Bonniville Rd in Hayes, Virginia that received a Coronavirus-related PPP loan from the SBA of $46,100.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least five people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Storybound Construction, Inc in Hayes, VA received a Paycheck Protection Loan of $46,100 through Chesapeake Bank, 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, Storybound Construction, Inc's 2019 payroll expenses are estimated to be at least $221,280.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $44,256 per employee1
Reported PPP Proceed Usage:
On the PPP application, Storybound Construction, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $44,300
- Rent: $1,800
Business Information - Storybound Construction, Inc in Hayes, VA
10013 Bonniville Rd
Hayes, VA 23072
Commercial and Institutional Building Construction
NAICS code 236220
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Hayes
In the Hayes area, 6 businesses in the "Commercial and Institutional Building Construction" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 5) and received an average PPP loan of $22,807 (compared to this company's $46,100).
Similar Nearby Businesses Who Received PPP Funding:
Brill Construction LLC
New Life Renovations, Inc
Dave Woolard Construction LLC
Lothian Building 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, 140% higher than Storybound Construction, Inc's reported 5 employees, and received an average PPP loan of $157,325, 241% higher than this company's loan of $46,100.
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