PPP Loan Data — Vito And Sons Construction, Depew, NY
Vito And Sons Construction is a sole proprietorship located at 35 Doehaven Circle in Depew, New York that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in June, 2020.
The company has reported itself as a White male owned business, and employed at least four people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Manufacturers and Traders Trust Company
Vito And Sons Construction in Depew, NY received a Paycheck Protection Loan of $25,000 through Manufacturers and Traders Trust Company, which was approved in June, 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 April, 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, Vito And Sons Construction's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Vito And Sons Construction reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $20,000
- Utilities: $500
- Mortgage Interest: $1,000
- Rent: $2,000
- Health Care: $1,000
- Debt Interest: $500
Business Information - Vito And Sons Construction in Depew, NY
35 Doehaven Circle
Depew, NY 14043
Highway, Street, and Bridge Construction
NAICS code 237310
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Depew
In the Depew area, 3 businesses in the "Highway, Street, and Bridge Construction" industry received a PPP loan. These local businesses reported an average of 20 employees (compared to this company's 4) and received an average PPP loan of $289,905 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Capozzi Paving, Inc
Accadia Site Contracting Inc
Industry PPP Comparison Statistics
Nationwide, 11,483 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, 550% higher than Vito And Sons Construction's reported 4 employees, and received an average PPP loan of $341,702, 1267% higher than this company's loan of $25,000.
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Footnotes & Information
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