PPP Loan Data — Strawser Paving Co., Inc, Columbus, OH
Strawser Paving Co., Inc is a subchapter s corporation located at 1595 Frank Road in Columbus, Ohio that received a Coronavirus-related PPP loan from the SBA of $3,420,837.00 in April, 2020.
The company has reported itself as a White female owned business, and employed at least 147 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:The Huntington National Bank
Strawser Paving Co., Inc in Columbus, OH received a Paycheck Protection Loan of $3.42M through The Huntington National Bank, which was approved in April, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 164. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, Strawser Paving Co., Inc's 2019 payroll expenses are estimated to be at least $16.42M (not accounting for salary amounts > $100k).
Because the 147 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Strawser Paving Co., Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,420,837
Business Information - Strawser Paving Co., Inc in Columbus, OH
1595 Frank Road
Columbus, OH 43223
Highway, Street, and Bridge Construction
NAICS code 237310
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Columbus
In the Columbus area, 7 businesses in the "Highway, Street, and Bridge Construction" industry received a PPP loan. These local businesses reported an average of 43 employees (compared to this company's 147) and received an average PPP loan of $1,166,356 (compared to this company's $3.42M).
Similar Nearby Businesses Who Received PPP Funding:
Bituminous Pavement Systems LLC
C. J. Mahan Construction Company, LLC
Industry PPP Comparison Statistics
Nationwide, 11,483 businesses in the "Highway, Street, and Bridge Construction" industry received a total of $3.92B 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 26 employees, 82% lower than Strawser Paving Co., Inc's reported 147 employees, and received an average PPP loan of $341,702, 90% lower than this company's loan of $3.42M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
Have FederalPay.org's open data tools been valuable? Consider donating!