THE BERLIN STEEL CONSTRUCTION COMPANY
PPP Loan approved Apr 12, 2020 through TD Bank, National Association
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $8,173,125.00 | 100.0% |
About This Loan
THE BERLIN STEEL CONSTRUCTION COMPANY received a PPP loan of $8,173,125 approved on Apr 12, 2020. The loan was originated by TD Bank, National Association.
THE BERLIN STEEL CONSTRUCTION COMPANY is a subchapter s corporation located in BERLIN, Connecticut. At the time of the application, the business was described as "existing or more than 2 years old".
The business operates in the Nonresidential Building Construction industry (NAICS 236220), part of the Construction sector of the economy. The applicant reported 425 jobs as retained through this loan.
The SBA forgave $8,270,294.38 of this loan — 101.2% of the total approved amount, with forgiveness recorded on Jun 23, 2021. This means the borrower was not required to repay this portion, having satisfied the PPP's eligibility criteria for forgiveness, including maintaining payroll levels and using the funds for qualified expenses.
According to the SBA's records, the proceeds of this loan were allocated as follows: $8,173,125 to payroll. The payroll component represents 100.0% of disclosed proceeds, consistent with the program's requirement that at least 60% of loan funds be used for payroll costs to qualify for full forgiveness.
This loan is one of millions approved nationwide during the COVID-19 pandemic. To explore other recipients in Connecticut, visit the Connecticut page. To compare this loan with others in the same industry, see the Nonresidential Building Construction industry page.