PPP Loan Data — A-1 Electric Co. Of Charlotte, Inc., Charlotte, NC
A-1 Electric Co. Of Charlotte, Inc.
Location: Charlotte, NCTweet This • Search All PPP Data
A-1 Electric Co. Of Charlotte, Inc. is a corporation located at 6120 Brookshire Blvd in Charlotte, North Carolina that received a Coronavirus-related PPP loan from the SBA of $160,407.00 in May, 2020.
$ PPP Loan Information
Lender:FIRST HORIZON BANK
A-1 Electric Co. Of Charlotte, Inc. received a Paycheck Protection Loan of $160,407 through FIRST HORIZON BANK, which was approved in May, 2020.
Based on standard PPP eligibility rules, A-1 Electric Co. Of Charlotte, Inc.'s total 2019 payroll expenses were approximately $769,954 in order to qualify for the PPP loan amount received.
Based on their reported 14 jobs retained, this equals an estimated average yearly compensation of $54,997 per employee1.
Business Information - A-1 Electric Co. Of Charlotte, Inc. in Charlotte, NC
6120 Brookshire Blvd
Charlotte, NC 28216
Electrical Contractors and Other Wiring Installation Contractors (NAICS code 238210)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: NC-12
Similar Companies near Charlotte
In the Charlotte area, 15 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 27 employees (compared to this company's 14) and received an average PPP loan of $385,750 (compared to this company's $160,407).
Similar Nearby Businesses Who Received PPP Funding:
Honesty Electric LLC
Circuit Works, Inc.
Horne Electric Company, Inc.
Howard Brothers Electric Of Clt, LLC
Foster's Electric LLC
Viva Electric LLC
LOC Doc Inc
Attaway Services Carolina Inc.
Industry PPP Comparison Statistics
Nationwide, 44,489 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a total of $8,060,101,877.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 12 employees, 14% lower than A-1 Electric Co. Of Charlotte, Inc.'s reported 14 employees, and received an average PPP loan of $181,171, 13% higher than this company's loan of $160,407.
FederalPay's PPP Information Policy
Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.
All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.
2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.
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