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PPP Loan Data — Wadsworth Brothers Construction Company, Inc., Draper, UT

SBA PPP loan data, payroll data, and salaries for Wadsworth Brothers Construction Company, Inc.
UT

Wadsworth Brothers Construction Company, Inc.

Entity: Subchapter S Corporation

Industry: Commercial and Institutional Building Construction

Location: Draper, UT

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Wadsworth Brothers Construction Company, Inc. is a subchapter s corporation located at 1350 Draper Pkwy in Draper, Utah that received a Coronavirus-related PPP loan from the SBA of $2,552,700.00 in July, 2020.

The company has reported itself as a White male owned business, and employed at least 145 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$2.55M

Jobs Retained:

145

Loan Approved:

2020-07-28

Lender:

NEWTEK SMALL BUSINESS FINANCE, INC.

Wadsworth Brothers Construction Company, Inc. in Draper, UT received a Paycheck Protection Loan of $2.55M through NEWTEK SMALL BUSINESS FINANCE, INC., which was approved in July, 2020.

Based on standard PPP eligibility rules, Wadsworth Brothers Construction Company, Inc.'s total 2019 payroll expenses were approximately $12.25M in order to qualify for the PPP loan amount received.

Based on their reported 145 jobs retained, this equals an estimated average yearly compensation of $84,503 per employee1.

Because the loan received by Wadsworth Brothers Construction Company, 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 - Wadsworth Brothers Construction Company, Inc. in Draper, UT

Wadsworth Brothers Construction Company, Inc.
1350 Draper Pkwy
Draper, UT 84020

Business Industry

Commercial and Institutional Building Construction (NAICS code 236220)

Business Owner Demographics

Race / Ethnicity: WHITE

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: UT-03

Similar Companies near Draper

In the Draper area, 14 businesses in the "Commercial and Institutional Building Construction" industry received a PPP loan. These local businesses reported an average of 21 employees (compared to this company's 145) and received an average PPP loan of $316,524 (compared to this company's $2.55M).

Industry PPP Comparison Statistics

Nationwide, 39,925 businesses in the "Commercial and Institutional Building Construction" industry received a total of $8,114,153,480.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.

PPP recipients in this industry report an average of 13 employees, 91% lower than Wadsworth Brothers Construction Company, Inc.'s reported 145 employees, and received an average PPP loan of $203,235, 92% lower than this company's loan of $2.55M.

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, and is published unmodified, as provided by the SBA.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. 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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Source: www.federalpay.org/paycheck-protection-program/wadsworth-brothers-construction-company-inc-draper-ut