PPP Loan Data — Wies Drywall & Construction Corp., Saint Louis, MO
Wies Drywall & Construction Corp. is a corporation located at 11767 Lackland Rd in Saint Louis, Missouri that received a Coronavirus-related PPP loan from the SBA of $2,833,872.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 121 people during the applicable loan loan period.
$ PPP Loan Information
Lender:1ST ADVANTAGE BANK
Wies Drywall & Construction Corp. in Saint Louis, MO received a Paycheck Protection Loan of $2.83M through 1ST ADVANTAGE BANK, which was approved in April, 2020.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 121 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 136.
Based on standard PPP eligibility rules, Wies Drywall & Construction Corp.'s total 2019 payroll expenses were approximately $13.6M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 121 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - Wies Drywall & Construction Corp. in Saint Louis, MO
11767 Lackland Rd
Saint Louis, MO 63146
Drywall and Insulation Contractors (NAICS code 238310)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional District: MO-01
Industry PPP Comparison Statistics
Nationwide, 8,671 businesses in the "Drywall and Insulation Contractors" industry received a total of $1,670,996,792.00 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 14 employees, 88% lower than Wies Drywall & Construction Corp.'s reported 121 employees, and received an average PPP loan of $192,711, 93% lower than this company's loan of $2.83M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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