PPP Loan Data — United Infrastructure Group, Inc, Charlotte, NC

United Infrastructure Group, Inc

Entity: Subchapter S Corporation

Industry: Highway, Street, and Bridge Construction

Location: Charlotte, NC

United Infrastructure Group, Inc is a subchapter s corporation located at 3800 Arco Corporate Drive Suite 200 in Charlotte, North Carolina that received a Coronavirus-related PPP loan from the SBA of $3,580,900.00 in April, 2020.

$ PPP Loan Information
Loan #7986457008

Loan Size:

$3.58M

Jobs Retained:

227

Loan Approved:

2020-04-08

Loan Status:

Paid in Full or Forgiven

Lender:

CIBC Bank USA

United Infrastructure Group, Inc in Charlotte, NC received a Paycheck Protection Loan of $3.58M through CIBC Bank USA, 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 May, 2022.

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.

Understanding 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.

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, United Infrastructure Group, Inc's 2019 payroll expenses are estimated to be at least $17.19M.

Based on their reported 227 jobs retained, this equals an estimated average yearly compensation of $75,719 per employee¹

Reported PPP Proceed Usage:

On the PPP application, United Infrastructure Group, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

Payroll: $3,580,900

Because the loan received by United Infrastructure Group, Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - United Infrastructure Group, Inc in Charlotte, NC

United Infrastructure Group, Inc
3800 Arco Corporate Drive Suite 200
Charlotte, NC 28273

Business Industry:
Highway, Street, and Bridge Construction
NAICS code 237310

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Mecklenburg County, NC — SBA Office 0460 — Congressional District: NC-12

Similar Companies near Charlotte

In the Charlotte area, 3 businesses in the "Highway, Street, and Bridge Construction" industry received a PPP loan. These local businesses reported an average of 202 employees (compared to this company's 227) and received an average PPP loan of $2,469,933 (compared to this company's $3.58M).

Similar Nearby Businesses Who Received PPP Funding:

Curtin Co
Charlotte, NC

$1.69M PPP Loan

Siteworks LLC
Charlotte, NC

$2.14M PPP Loan

Industry PPP Comparison Statistics

Nationwide, 11,408 businesses in the "Highway, Street, and Bridge Construction" industry received a total of $3.92B 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 26 employees, 89% lower than United Infrastructure Group, Inc's reported 227 employees, and received an average PPP loan of $343,661, 90% lower than this company's loan of $3.58M.

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.

Search FederalPay's Full PPP Loan Database

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.

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