PPP Loan Data — All Star Electric, Inc., La Place, LA
All Star Electric, Inc.
Entity: Subchapter S Corporation
Location: La Place, LATweet This • Search All PPP Data
All Star Electric, Inc. is a subchapter s corporation located at 1208 Bert St in La Place, Louisiana that received a Coronavirus-related PPP loan from the SBA of $3,151,000.00 in April, 2020.
$ PPP Loan Information
Lender:HANCOCK WHITNEY BANK
All Star Electric, Inc. in La Place, LA received a Paycheck Protection Loan of $3.15M through HANCOCK WHITNEY BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, All Star Electric, Inc.'s total 2019 payroll expenses were approximately $15.12M in order to qualify for the PPP loan amount received.
Based on their reported 343 jobs retained, this equals an estimated average yearly compensation of $44,096 per employee1.
Business Information - All Star Electric, Inc. in La Place, LA
1208 Bert St
La Place, LA 70068
Electrical Contractors and Other Wiring Installation Contractors (NAICS code 238210)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: LA-02
Similar Companies near La Place
In the La Place area, 5 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 71 employees (compared to this company's 343) and received an average PPP loan of $642,716 (compared to this company's $3.15M).
Similar Nearby Businesses Who Received PPP Funding:
Diamond Electric Service Contractors, LLC
Perc Enterprises Inc
La Place, LA
Allen Electrical Services, LLC
A R E Louisiana, Inc.
La Place, LA
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, 97% lower than All Star Electric, Inc.'s reported 343 employees, and received an average PPP loan of $181,171, 94% lower than this company's loan of $3.15M.
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, and is published unmodified, as provided by the SBA.
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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