PC CONSTRUCTION COMPANY
PPP Loan approved Apr 11, 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 | $9,739,107.00 | 100.0% |
About This Loan
PC CONSTRUCTION COMPANY received a PPP loan of $9,739,107 approved on Apr 11, 2020. The loan was originated by TD Bank, National Association.
PC CONSTRUCTION COMPANY is a subchapter s corporation located in SOUTH BURLINGTON, Vermont. At the time of the application, the business was described as "existing or more than 2 years old".
The business operates in the Utility System Construction industry (NAICS 237110), part of the Construction sector of the economy. The applicant reported 403 jobs as retained through this loan.
The SBA forgave $9,851,647.79 of this loan — 101.2% of the total approved amount, with forgiveness recorded on Jun 11, 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: $9,739,107 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 Vermont, visit the Vermont page. To compare this loan with others in the same industry, see the Utility System Construction industry page.