Nonresidential Building Construction

Businesses and organizations in the Nonresidential Building Construction industry (NAICS code 2362, part of the Construction sector) received 93,399 PPP loans totaling $14.59B during the COVID-19 pandemic.

The average loan for this industry was $156,201 — above the national PPP average of approximately $67,000. This reflects the relatively large size of many businesses in this sector, which tend to have higher payroll costs and more employees.

93.4% of loans in this industry were forgiven — totaling $14.23B. To qualify for forgiveness, borrowers had to demonstrate that they maintained headcount and compensation levels and used at least 60% of loan proceeds for payroll expenses.

Notable recipients in this industry include J.P. CULLEN & SONS INC. of JANESVILLE, WI ($10,000,000); GLY CONSTRUCTION INC. of BELLEVUE, WA ($10,000,000); and SELLEN CONSTRUCTION CO INC of SEATTLE, WA ($10,000,000).

The loan amount distribution for this industry shows a more even spread across loan sizes, suggesting a mix of small and mid-sized businesses. Because borrower names are withheld for loans under $150,000, a substantial portion of recipients in this industry may not appear by name in this dataset.

As part of the broader Construction sector — building construction, heavy and civil engineering construction, and specialty trade contractors. — businesses in NAICS 2362 were particularly reliant on PPP assistance to bridge the gap between declining revenues and fixed overhead obligations during the shutdown period.