PPP Loan Data — T.l. Hanks Excavating Inc, Phoenix, AZ
T.l. Hanks Excavating Inc
Location: Phoenix, AZTweet This • Search All PPP Data
T.l. Hanks Excavating Inc is a corporation located at 2425 Olney Ave W in Phoenix, Arizona that received a Coronavirus-related PPP loan from the SBA of $47,015.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:U.S. Bank, National Association
T.l. Hanks Excavating Inc in Phoenix, AZ received a Paycheck Protection Loan of $47,015 through U.S. Bank, National Association, 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 February, 2021.
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, T.l. Hanks Excavating Inc's 2019 payroll expenses are estimated to be at least $225,672.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $45,134 per employee1
Reported PPP Proceed Usage:
On the PPP application, T.l. Hanks Excavating Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $47,015
Business Information - T.l. Hanks Excavating Inc in Phoenix, AZ
2425 Olney Ave W
Phoenix, AZ 85041
New Single-Family Housing Construction (except For-Sale Builders)
NAICS code 236115
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Phoenix
In the Phoenix area, 31 businesses in the "New Single-Family Housing Construction (except For-Sale Builders)" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 5) and received an average PPP loan of $95,561 (compared to this company's $47,015).
Similar Nearby Businesses Who Received PPP Funding:
Design And Stone International Inc
Industry PPP Comparison Statistics
Nationwide, 127,156 businesses in the "New Single-Family Housing Construction (except For-Sale Builders)" industry received a total of $5.75B 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 5 employees, the same amount reported by T.l. Hanks Excavating Inc and received an average PPP loan of $45,182, 4% lower than this company's loan of $47,015.
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Footnotes & Information
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