PPP Loan Data — Beacon Communications, LLC, Englewood, CO
Beacon Communications, LLC
Location: Englewood, COTweet This • Search All PPP Data
Beacon Communications, LLC is a corporation located at 3211 S Zuni St in Englewood, Colorado that received a Coronavirus-related PPP loan from the SBA of $2,280,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Cadence Bank, National Association
Beacon Communications, LLC in Englewood, CO received a Paycheck Protection Loan of $2.28M through Cadence Bank, National Association, which was approved in April, 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.The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 25 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 109. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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 More
Understanding 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 More
Based 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, Beacon Communications, LLC's 2019 payroll expenses are estimated to be at least $10.94M (not accounting for salary amounts > $100k).
Because the 25 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Beacon Communications, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,280,000
Business Information - Beacon Communications, LLC in Englewood, CO
3211 S Zuni St
Englewood, CO 80110
Electrical Contractors and Other Wiring Installation Contractors
NAICS code 238210
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Englewood
In the Englewood area, 43 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 25) and received an average PPP loan of $353,478 (compared to this company's $2.28M).
Similar Nearby Businesses Who Received PPP Funding:
Superior Electric, Inc
Fredrich Electric Inc
Carry The Light Electric, Inc
Audio Video Assistance Group
Over-All Electric, LLC
Reliance Electric, Inc
Greenwood Village, CO
Productive Electric, LLC
MV Power Solutions LLC
Industry PPP Comparison Statistics
Nationwide, 82,626 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a total of $11.77B 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, 56% lower than Beacon Communications, LLC's reported 25 employees, and received an average PPP loan of $142,494, 94% lower than this company's loan of $2.28M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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