PPP Loan Data — Valentine Contractors Inc, Canton, OH
Valentine Contractors Inc is a corporation located at 7680 Whipple Ave Nw in Canton, Ohio that received a Coronavirus-related PPP loan from the SBA of $2,779,040.00 in May, 2020.
The company has reported itself as a female owned business, and employed at least 118 people during the applicable loan loan period.
$ PPP Loan Information
Lender:THE HUNTINGTON NATIONAL BANK
Valentine Contractors Inc received a Paycheck Protection Loan of $2.78M through THE HUNTINGTON NATIONAL BANK, which was approved in May, 2020.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 118 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 133.
Based on standard PPP eligibility rules, Valentine Contractors Inc's total 2019 payroll expenses were approximately $13.34M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 118 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - Valentine Contractors Inc in Canton, OH
7680 Whipple Ave Nw
Canton, OH 44720
Masonry Contractors (NAICS code 238140)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: FEMALE OWNED
Veteran Status: NON-VETERANCongressional District: OH-16
Similar Companies near Canton
In the Canton area, 3 businesses in the "Masonry Contractors" industry received a PPP loan. These local businesses reported an average of 46 employees (compared to this company's 118) and received an average PPP loan of $1,028,280 (compared to this company's $2.78M).
Similar Nearby Businesses Who Received PPP Funding:
Stark Construction, Inc
North Canton, OH
Greg Hill's Custom Fireplace, Inc.
Industry PPP Comparison Statistics
Nationwide, 8,054 businesses in the "Masonry Contractors" industry received a total of $1,051,191,192.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 10 employees, 92% lower than Valentine Contractors Inc's reported 118 employees, and received an average PPP loan of $130,518, 95% lower than this company's loan of $2.78M.
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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