FederalPay.org
PPP Loan Data — Bay Electric, Inc,
South San Francisco, CA
Bay Electric, Inc
Entity: Subchapter S Corporation
Industry: Electrical Contractors and Other Wiring Installation Contractors
Location: South San Francisco, CA
Tweet This
•
Search All PPP Data
Bay Electric, Inc is a subchapter s corporation located at 11 Airport Boulevard Suite 107 in South San Francisco, California that received a Coronavirus-related PPP loan from the SBA of $82,364.00 in June, 2020.
The company has reported itself as a White male owned business, and employed at least five people during the applicable loan loan period.
$
PPP Loan Information
Loan #6633178003
Loan Size:
Jobs Retained:
5Loan Approved:
2020-06-30Loan Status:
Ongoing LoanLender:
Benworth CapitalBay Electric, Inc in South San Francisco, CA received a Paycheck Protection Loan of $82,364 through Benworth Capital, which was approved in June, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Bay Electric, Inc's 2019 payroll expenses are estimated to be at least $395,347.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $79,069 per employee1
Reported PPP Proceed Usage:
On the PPP application, Bay Electric, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $82,364
Business Information - Bay Electric, Inc in South San Francisco, CA
11 Airport Boulevard Suite 107
South San Francisco, CA 94080
Business Industry:
Electrical Contractors and Other Wiring Installation Contractors
NAICS code 238210
Business Owner Demographics
Race: White
Ethnicity: Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near South San Francisco
In the South San Francisco area, 21 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 15 employees (compared to this company's 5) and received an average PPP loan of $392,014 (compared to this company's $82,364).
Similar Nearby Businesses Who Received PPP Funding:
Hughston Engineering, Inc
South San Francisco, CA
Bay Area Systems & Solutions Inc. DBA Bass Electric
South San Francisco, CA
J Copello International Corporation
South San Francisco, CA
BBJ Electric Inc
South San Francisco, CA
BBJ Electric
South San Francisco, CA
Andrade Link Electric Corporation
South San Francisco, CA
Bajada Electric Inc
South San Francisco, CA
Harrington Electrical Services
South San Francisco, CA
Industry PPP Comparison Statistics
Nationwide, 81,495 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a total of $11.75B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 11 employees, 120% higher than Bay Electric, Inc's reported 5 employees, and received an average PPP loan of $144,173, 75% higher than this company's loan of $82,364.
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. Estimations for informational purposes only. 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.
Have FederalPay.org's open data tools been valuable? Consider donating!