PPP Loan Data — W S Newell & Sons Inc, Montgomery, AL
W S Newell & Sons Inc is a subchapter s corporation located at 10480 Highway 80 E in Montgomery, Alabama that received a Coronavirus-related PPP loan from the SBA of $1,612,535.00 in January, 2021.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Valley National Bank
W S Newell & Sons Inc in Montgomery, AL received a Paycheck Protection Loan of $1.61M through Valley National Bank, which was approved 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, W S Newell & Sons Inc's 2019 payroll expenses are estimated to be at least $7.74M.
Based on their reported 138 jobs retained, this equals an estimated average yearly compensation of $56,088 per employee1
Reported PPP Proceed Usage:
On the PPP application, W S Newell & Sons Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,612,533
- Utilities: $1
Business Information - W S Newell & Sons Inc in Montgomery, AL
10480 Highway 80 E
Montgomery, AL 36117
Highway, Street, and Bridge Construction
NAICS code 237310
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Montgomery
In the Montgomery area, 6 businesses in the "Highway, Street, and Bridge Construction" industry received a PPP loan. These local businesses reported an average of 37 employees (compared to this company's 138) and received an average PPP loan of $388,833 (compared to this company's $1.61M).
Similar Nearby Businesses Who Received PPP Funding:
Ozark Safety Services LLC
Ozark Traffic Management LLC
DOT Construction Services 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, 81% lower than W S Newell & Sons Inc's reported 138 employees, and received an average PPP loan of $341,702, 79% lower than this company's loan of $1.61M.
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Footnotes & Information
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