PPP Loan Data — Triton Construction Inc, Saint Albans, WV
Triton Construction Inc is a subchapter s corporation located at 1944 Winfield Rd in Saint Albans, West Virginia that received a Coronavirus-related PPP loan from the SBA of $6,584,935.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Truist Bank d/b/a Branch Banking & Trust Co
Triton Construction Inc in Saint Albans, WV received a Paycheck Protection Loan of $6.58M through Truist Bank d/b/a Branch Banking & Trust Co, which was approved in April, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 316. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, Triton Construction Inc's 2019 payroll expenses are estimated to be at least $31.61M (not accounting for salary amounts > $100k).
Because the 264 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Triton Construction Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $6,584,935
Business Information - Triton Construction Inc in Saint Albans, WV
1944 Winfield Rd
Saint Albans, WV 25177
Highway, Street, and Bridge Construction
NAICS code 237310
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Similar Companies near Saint Albans
In the Saint Albans area, 4 businesses in the "Highway, Street, and Bridge Construction" industry received a PPP loan. These local businesses reported an average of 134 employees (compared to this company's 264) and received an average PPP loan of $2,796,326 (compared to this company's $6.58M).
Similar Nearby Businesses Who Received PPP Funding:
Orders Construction Company Inc
Saint Albans, WV
Tri State Service Center
St. Albans, WV
Industry PPP Comparison Statistics
Nationwide, 10,566 businesses in the "Highway, Street, and Bridge Construction" industry received a total of $3.82B 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 27 employees, 90% lower than Triton Construction Inc's reported 264 employees, and received an average PPP loan of $361,676, 95% lower than this company's loan of $6.58M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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