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PPP Loan Data — Western Construction, Inc., Prestonsburg, KY

SBA PPP loan data, payroll data, and salaries for Western Construction, Inc.
KY

Western Construction, Inc.

Entity: Corporation

Industry: Oil and Gas Pipeline and Related Structures Construction

Location: Prestonsburg, KY

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Western Construction, Inc. is a corporation located at Po Box 727 in Prestonsburg, Kentucky that received a Coronavirus-related PPP loan from the SBA of $3,118,700.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.12M

Jobs Retained:

247

Loan Approved:

2020-04-07

Lender:

COMMUNITY TRUST BANK, INC.

Western Construction, Inc. in Prestonsburg, KY received a Paycheck Protection Loan of $3.12M through COMMUNITY TRUST BANK, INC., which was approved in April, 2020.

Based on standard PPP eligibility rules, Western Construction, Inc.'s total 2019 payroll expenses were approximately $14.97M in order to qualify for the PPP loan amount received.

Based on their reported 247 jobs retained, this equals an estimated average yearly compensation of $60,606 per employee1.

Because the loan received by Western Construction, 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 - Western Construction, Inc. in Prestonsburg, KY

Western Construction, Inc.
Po Box 727
Prestonsburg, KY 41653

Business Industry

Oil and Gas Pipeline and Related Structures Construction (NAICS code 237120)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: KY-05

Industry PPP Comparison Statistics

Nationwide, 1,513 businesses in the "Oil and Gas Pipeline and Related Structures Construction" industry received a total of $689,155,003.00 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 26 employees, 89% lower than Western Construction, Inc.'s reported 247 employees, and received an average PPP loan of $455,489, 85% lower than this company's loan of $3.12M.

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.

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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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/western-construction-inc-prestonsburg-ky