Foundation, Structure, and Building Exterior Contractors

Businesses and organizations in the Foundation, Structure, and Building Exterior Contractors industry (NAICS code 2381, part of the Construction sector) received 102,538 PPP loans totaling $11.40B during the COVID-19 pandemic.

The average loan for this industry was $111,223 — above the national PPP average of approximately $67,000. This reflects the small business character of most participants in this industry, typically sole proprietors and micro-businesses with modest payroll obligations.

93.8% of loans in this industry were forgiven — totaling $11.18B. 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 VENABLE'S WELDING & ROUSTABOUT of AMARILLO, TX ($10,000,000); STAFFING INNOVATIONS, LLC of RICHARDSON, TX ($10,000,000); and ROGER & SONS CONCRETE INC. of LAGRANGEVILLE, 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 2381 were particularly reliant on PPP assistance to bridge the gap between declining revenues and fixed overhead obligations during the shutdown period.