PPP Loan Data — Top Tier Contracting LLC, Auburn, GA
Top Tier Contracting LLC is a limited liability company (LLC) located at 120 Auburn Park Dr Ste H in Auburn, Georgia that received a Coronavirus-related PPP loan from the SBA of $45,945.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
Top Tier Contracting LLC in Auburn, GA received a Paycheck Protection Loan of $45,945 through Bank of America, National Association, which was approved in May, 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, Top Tier Contracting LLC's 2019 payroll expenses are estimated to be at least $220,536.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $55,134 per employee1
Reported PPP Proceed Usage:
On the PPP application, Top Tier Contracting LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $45,945
Business Information - Top Tier Contracting LLC in Auburn, GA
120 Auburn Park Dr Ste H
Auburn, GA 30011
NAICS code 236118
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Auburn
In the Auburn area, 75 businesses in the "Residential Remodelers" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 4) and received an average PPP loan of $28,674 (compared to this company's $45,945).
Similar Nearby Businesses Who Received PPP Funding:
Danny Joseph Akins DBA Akins Home Projects
Industry PPP Comparison Statistics
Nationwide, 175,017 businesses in the "Residential Remodelers" industry received a total of $5.32B 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 3 employees, 25% lower than Top Tier Contracting LLC's reported 4 employees, and received an average PPP loan of $30,405, 34% lower than this company's loan of $45,945.
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Footnotes & Information
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