PPP Loan Data — Brendlen Electric, Inc, Ridgeland, SC
Brendlen Electric, Inc
Location: Ridgeland, SCTweet This • Search All PPP Data
Brendlen Electric, Inc is a corporation located at 1570 Driggers Lane in Ridgeland, South Carolina that received a Coronavirus-related PPP loan from the SBA of $25,105.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:South State Bank, National Association
Brendlen Electric, Inc in Ridgeland, SC received a Paycheck Protection Loan of $25,105 through South State Bank, National Association, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in April, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
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, Brendlen Electric, Inc's 2019 payroll expenses are estimated to be at least $120,504.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,168 per employee1
Reported PPP Proceed Usage:
On the PPP application, Brendlen Electric, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,105
Business Information - Brendlen Electric, Inc in Ridgeland, SC
1570 Driggers Lane
Ridgeland, SC 29936
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: Rural
Similar Companies near Ridgeland
In the Ridgeland area, 4 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 3) and received an average PPP loan of $39,953 (compared to this company's $25,105).
Similar Nearby Businesses Who Received PPP Funding:
Live Oak Electrical Services, LLC
Tim Cramer Electrical, Inc
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, 267% higher than Brendlen Electric, Inc's reported 3 employees, and received an average PPP loan of $142,494, 468% higher than this company's loan of $25,105.
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Footnotes & Information
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