PPP Loan Data — Triple E Construction, Inc, Beachwood, OH
Triple E Construction, Inc
Location: Beachwood, OHTweet This • Search All PPP Data
Triple E Construction, Inc is a corporation located at 23600 Mercantile Rd Ste B in Beachwood, Ohio that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Fifth Third Bank
Triple E Construction, Inc in Beachwood, OH received a Paycheck Protection Loan of $25,000 through Fifth Third Bank, which was approved in May, 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, Triple E Construction, Inc's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Triple E Construction, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Triple E Construction, Inc in Beachwood, OH
23600 Mercantile Rd Ste B
Beachwood, OH 44122
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 Beachwood
In the Beachwood area, 48 businesses in the "New Single-Family Housing Construction (except For-Sale Builders)" 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 $26,768 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
SRS Construction Inc
Strano Construction LLC
Frank Black IV
Cleveland Heights, OH
Kertes Enterprises Inc
Hammers & Broomsticks, LLC
Inter-Build Construction Co
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, 25% higher than Triple E Construction, Inc's reported 4 employees, and received an average PPP loan of $45,182, 81% higher than this company's loan of $25,000.
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Footnotes & Information
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