PPP Loan Data — Thermal Insulation, Inc, Decatur, AL
Thermal Insulation, Inc
Entity: Subchapter S Corporation
Location: Decatur, ALTweet This • Search All PPP Data
Thermal Insulation, Inc is a subchapter s corporation located at 2536 Central Parkway Sw in Decatur, Alabama that received a Coronavirus-related PPP loan from the SBA of $2,090,200.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 165 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Thermal Insulation, Inc in Decatur, AL received a Paycheck Protection Loan of $2.09M through Bank Independent, 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, Thermal Insulation, Inc's 2019 payroll expenses are estimated to be at least $10.03M.
Based on their reported 165 jobs retained, this equals an estimated average yearly compensation of $60,806 per employee1
Reported PPP Proceed Usage:
On the PPP application, Thermal Insulation, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,090,200
Business Information - Thermal Insulation, Inc in Decatur, AL
2536 Central Parkway Sw
Decatur, AL 35601
Commercial and Institutional Building Construction
NAICS code 236220
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Similar Companies near Decatur
In the Decatur area, 9 businesses in the "Commercial and Institutional Building Construction" industry received a PPP loan. These local businesses reported an average of 28 employees (compared to this company's 165) and received an average PPP loan of $341,290 (compared to this company's $2.09M).
Similar Nearby Businesses Who Received PPP Funding:
Pressnell Construction LLC
General Repairs Services Inc
Simco Construction, Inc
The Core Construction Group, LLC
Jerry L Smith & Gen. Contractors, Inc
Hometrend Construction Company, Inc
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, 93% lower than Thermal Insulation, Inc's reported 165 employees, and received an average PPP loan of $157,325, 92% lower than this company's loan of $2.09M.
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