Highway, Street, and Bridge Construction

Businesses and organizations in the Highway, Street, and Bridge Construction industry (NAICS code 2373, part of the Construction sector) received 11,408 PPP loans totaling $3.92B during the COVID-19 pandemic.

The average loan for this industry was $343,661 — 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.

96.6% of loans in this industry were forgiven — totaling $3.88B. 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.D. ECKMAN, INC. of ATGLEN, PA ($10,000,000); MBC HOLDINGS OF OHIO, INC. of ARCHBOLD, OH ($10,000,000); and D.A. COLLINS CONSTRUCTION CO INC. of GANSEVOORT, NY ($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 2373 were particularly reliant on PPP assistance to bridge the gap between declining revenues and fixed overhead obligations during the shutdown period.