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PPP Loan Data — Chicopee Electronics, LLC, Chicopee, MA

SBA PPP loan data, payroll data, and salaries for Chicopee Electronics, LLC
MA

Chicopee Electronics, LLC

Entity: Limited Liability Company (LLC)

Industry: Electrical Contractors and Other Wiring Installation Contractors

Location: Chicopee, MA

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Chicopee Electronics, LLC is a limited liability company (LLC) located in Chicopee, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $6,580.00 in April, 2020.

$ PPP Loan Information
Loan #9543437100

Loan Size:

$6,580

Jobs Retained:

1

Loan Approved:

2020-04-15

Loan Status:

Paid in Full or Forgiven

Lender:

Westfield Bank

Chicopee Electronics, LLC in Chicopee, MA received a Paycheck Protection Loan of $6,580 through Westfield Bank, 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 February, 2021.


PPP Calculation Note: The total PPP loan an eligible business or individual can receive is based on 2.5 times their average monthly 2019 payroll expenses, capped at $100,000 annually per employee.

Reported PPP Proceed Usage:

On the PPP application, Chicopee Electronics, LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $6,580

Business Information - Chicopee Electronics, LLC in Chicopee, MA

Chicopee Electronics, LLC
Chicopee, MA
* Full address is redacted to protect the privacy of individuals.

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Hampden County, MA — SBA Office 0130 — Congressional District: MA-01

Similar Companies near Chicopee

In the Chicopee area, 5 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 28 employees (compared to this company's 1) and received an average PPP loan of $653,435 (compared to this company's $6,580).

Industry PPP Comparison Statistics

Nationwide, 71,211 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a total of $11.34B 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 13 employees, 1200% higher than Chicopee Electronics, LLC's reported 1 employees, and received an average PPP loan of $159,309, 2321% higher than this company's loan of $6,580.

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.

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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.


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Source: www.federalpay.org/paycheck-protection-program/chicopee-electronics-llc-chicopee-ma