PPP Loan Data — Timmons Group, Inc., Richmond, VA
Timmons Group, Inc. is a corporation located at 1001 Boulders Parkway in Richmond, Virginia that received a Coronavirus-related PPP loan from the SBA of $10,000,000.00 in April, 2020.
$ PPP Loan Information
Jobs Retained:0 Unreported
Timmons Group, Inc. in Richmond, VA received a Paycheck Protection Loan of $10M through TOWNE BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Timmons Group, Inc.'s total 2019 payroll expenses were approximately $48M in order to qualify for the PPP loan amount received.
Unlike most businesses, Timmons Group, Inc.'s PPP data does not report the number of jobs retained by their receipt of the Paycheck Protection Loan (some banks did not release this infomation from their loan applications). Without this data, per-employee payrolls for this company cannot be estimated.
Business Information - Timmons Group, Inc. in Richmond, VA
1001 Boulders Parkway
Richmond, VA 23225
Engineering Services (NAICS code 541330)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: VA-07
Similar Companies near Richmond
In the Richmond area, 5 businesses in the "Engineering Services" industry received a PPP loan. These local businesses reported an average of 10 employees (compared to this company's 0) and received an average PPP loan of $2,339,152 (compared to this company's $10M).
Similar Nearby Businesses Who Received PPP Funding:
Hana Engineers And Consultants, LLC
North Chesterfield, VA
Dunbar Milby Williams Pittman & Vaughan PLLC
North Chesterfield, VA
Austin Brockenbrough & Associates LLC
Kurtis S. Hedrick, P.E., Inc.
Industry PPP Comparison Statistics
Nationwide, 28,113 businesses in the "Engineering Services" industry received a total of $7,024,215,141.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 14 employees, and received an average PPP loan of $249,856, 98% lower than this company's loan of $10M.
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, and is published unmodified, as provided by the SBA.
Footnotes & Information
1. 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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