PPP Loan Data — Twin City Concrete, Twin City, GA
Twin City Concrete
Entity: Sole Proprietorship
Location: Twin City, GATweet This • Search All PPP Data
Twin City Concrete is a sole proprietorship located at 24 Hwy 192 N in Twin City, Georgia that received a Coronavirus-related PPP loan from the SBA of $24,912.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Persons Banking Company
Twin City Concrete in Twin City, GA received a Paycheck Protection Loan of $24,912 through Persons Banking Company, 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 January, 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, Twin City Concrete's 2019 payroll expenses are estimated to be at least $119,578.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $29,895 per employee1
Reported PPP Proceed Usage:
On the PPP application, Twin City Concrete reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,912
Business Information - Twin City Concrete in Twin City, GA
24 Hwy 192 N
Twin City, GA 30471
Prefabricated Metal Building and Component Manufacturing
NAICS code 332311
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: Y
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 1,362 businesses in the "Prefabricated Metal Building and Component Manufacturing" industry received a total of $310.57M 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 21 employees, 425% higher than Twin City Concrete's reported 4 employees, and received an average PPP loan of $228,025, 815% higher than this company's loan of $24,912.
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Footnotes & Information
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