PPP Loan Data — Webb Concrete & Building Materials, Inc, Heflin, AL
Webb Concrete & Building Materials, Inc is a corporation located at 64 Hunnicutt St in Heflin, Alabama that received a Coronavirus-related PPP loan from the SBA of $1,969,920.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 164 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Webb Concrete & Building Materials, Inc in Heflin, AL received a Paycheck Protection Loan of $1.97M through SouthPoint Bank, 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 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, Webb Concrete & Building Materials, Inc's 2019 payroll expenses are estimated to be at least $9.46M.
Based on their reported 164 jobs retained, this equals an estimated average yearly compensation of $57,656 per employee1
Reported PPP Proceed Usage:
On the PPP application, Webb Concrete & Building Materials, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,969,920
Business Information - Webb Concrete & Building Materials, Inc in Heflin, AL
64 Hunnicutt St
Heflin, AL 36264
Concrete Block and Brick Manufacturing
NAICS code 327331
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 614 businesses in the "Concrete Block and Brick Manufacturing" industry received a total of $129.41M 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 20 employees, 88% lower than Webb Concrete & Building Materials, Inc's reported 164 employees, and received an average PPP loan of $210,758, 89% lower than this company's loan of $1.97M.
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Footnotes & Information
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