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PPP Loan Data — Collins Electrical Company, Inc., Stockton, CA

SBA PPP loan data, payroll data, and salaries for Collins Electrical Company, Inc.
CA

Collins Electrical Company, Inc.

Entity: Corporation

Industry: Electrical Contractors and Other Wiring Installation Contractors

Location: Stockton, CA

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Collins Electrical Company, Inc. is a corporation located at 3412 Metro Drive in Stockton, California that received a Coronavirus-related PPP loan from the SBA of $5,000,000.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$5M

Jobs Retained:

347

Loan Approved:

2020-04-07

Lender:

FARMERS & MERCHANTS BANK OF CENTRAL CALIFORNIA

Collins Electrical Company, Inc. received a Paycheck Protection Loan of $5M through FARMERS & MERCHANTS BANK OF CENTRAL CALIFORNIA, which was approved in April, 2020.

Based on standard PPP eligibility rules, Collins Electrical Company, Inc.'s total 2019 payroll expenses were approximately $24M in order to qualify for the PPP loan amount received.

Based on their reported 347 jobs retained, this equals an estimated average yearly compensation of $69,164 per employee1.

Because the loan received by Collins Electrical Company, Inc. is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Collins Electrical Company, Inc. in Stockton, CA

Collins Electrical Company, Inc.
3412 Metro Drive
Stockton, CA 95215

Business Industry

Electrical Contractors and Other Wiring Installation Contractors (NAICS code 238210)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: CA-09

Similar Companies near Stockton

In the Stockton area, 7 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 58 employees (compared to this company's 347) and received an average PPP loan of $840,873 (compared to this company's $5M).

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 Collins Electrical Company, Inc.'s reported 347 employees, and received an average PPP loan of $181,171, 96% lower than this company's loan of $5M.

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.

Search FederalPay's Full PPP Loan Database

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/collins-electrical-company-inc-stockton-ca