FederalPay.org
PPP Loan Data — United Concrete Products Inc,
Wallingford, CT
United Concrete Products Inc
Entity: Corporation
Industry: Structural Steel and Precast Concrete Contractors
Location: Wallingford, CT
Tweet This
•
Search All PPP Data
United Concrete Products Inc is a corporation located at 173 Church St in Wallingford, Connecticut that received a Coronavirus-related PPP loan from the SBA of $3,730,000.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 230 people during the applicable loan loan period.
$
PPP Loan Information
Loan #4359807003
Loan Size:
Jobs Retained:
230Loan Approved:
2020-04-03Loan Status:
Paid in Full or ForgivenLender:
Ion BankUnited Concrete Products Inc in Wallingford, CT received a Paycheck Protection Loan of $3.73M through Ion Bank, 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 August, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, United Concrete Products Inc's 2019 payroll expenses are estimated to be at least $17.9M.
Based on their reported 230 jobs retained, this equals an estimated average yearly compensation of $77,843 per employee1
Reported PPP Proceed Usage:
On the PPP application, United Concrete Products Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,730,000
Business Information - United Concrete Products Inc in Wallingford, CT
173 Church St
Wallingford, CT 6492
Business Industry:
Structural Steel and Precast Concrete Contractors
NAICS code 238120
Business Owner Demographics
Race: White
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Businesses Using Same Address:
There are 3 other businesses that received a PPP loan registered to the same address as United Concrete Products Inc.
United Underground Precast & Infrastructure, LLC
Structural Steel and Precast Concrete Contractors
Yalesville Properties LLC
Nonresidential Property Managers
United Trucking Inc
Specialized Freight (except Used Goods) Trucking, Local
Similar Companies near Wallingford
In the Wallingford area, 2 businesses in the "Structural Steel and Precast Concrete Contractors" industry received a PPP loan. These local businesses reported an average of 116 employees (compared to this company's 230) and received an average PPP loan of $1,882,500 (compared to this company's $3.73M).
Similar Nearby Businesses Who Received PPP Funding:
United Underground Precast & Infrastructure, LLC
Wallingford, CT
Industry PPP Comparison Statistics
Nationwide, 3,832 businesses in the "Structural Steel and Precast Concrete Contractors" industry received a total of $1.01B 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 20 employees, 91% lower than United Concrete Products Inc's reported 230 employees, and received an average PPP loan of $264,532, 93% lower than this company's loan of $3.73M.
FederalPay's PPP Information Policy
Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.
All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.
2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.
Have FederalPay.org's open data tools been valuable? Consider donating!