PPP Loan Data — True Edge Construction, LLC, Fife, WA
True Edge Construction, LLC
Entity: Limited Liability Company (LLC)
Location: Fife, WATweet This • Search All PPP Data
True Edge Construction, LLC is a limited liability company (LLC) located at 1012 66th Ave E in Fife, Washington that received a Coronavirus-related PPP loan from the SBA of $24,872.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:JPMorgan Chase Bank, National Association
True Edge Construction, LLC in Fife, WA received a Paycheck Protection Loan of $24,872 through JPMorgan Chase Bank, 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 March, 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, True Edge Construction, LLC's 2019 payroll expenses are estimated to be at least $119,386.
Based on their reported 30 jobs retained, this equals an estimated average yearly compensation of $3,980 per employee1
Reported PPP Proceed Usage:
On the PPP application, True Edge Construction, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $22,344
- Health Care: $1,396
- Debt Interest: $1,132
Business Information - True Edge Construction, LLC in Fife, WA
1012 66th Ave E
Fife, WA 98424
New Single-Family Housing Construction (except For-Sale Builders)
NAICS code 236115
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Fife
In the Fife area, 10 businesses in the "New Single-Family Housing Construction (except For-Sale Builders)" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 30) and received an average PPP loan of $38,917 (compared to this company's $24,872).
Similar Nearby Businesses Who Received PPP Funding:
Axis Floor LLC
Bowman Construction Consulting PLLC
Timber Coast Construction
Alan Floor Covering
Landmark Custom Construction 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, 83% lower than True Edge Construction, LLC's reported 30 employees, and received an average PPP loan of $45,182, 82% higher than this company's loan of $24,872.
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Footnotes & Information
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