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PPP Loan Data — Cooper Electrical Construction Company, Greensboro, NC

SBA PPP loan data, payroll data, and salaries for Cooper Electrical Construction Company
NC

Cooper Electrical Construction Company

Entity: Subchapter S Corporation

Industry: Electrical Contractors and Other Wiring Installation Contractors

Location: Greensboro, NC

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Cooper Electrical Construction Company is a subchapter s corporation located at 1706 E. Wendover Ave in Greensboro, North Carolina that received a Coronavirus-related PPP loan from the SBA of $3,646,412.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.65M

Jobs Retained:

303

Loan Approved:

2020-04-27

Lender:

CARTER BANK & TRUST

Cooper Electrical Construction Company received a Paycheck Protection Loan of $3.65M through CARTER BANK & TRUST, which was approved in April, 2020.

Based on standard PPP eligibility rules, Cooper Electrical Construction Company's total 2019 payroll expenses were approximately $17.5M in order to qualify for the PPP loan amount received.

Based on their reported 303 jobs retained, this equals an estimated average yearly compensation of $57,765 per employee1.

Because the loan received by Cooper Electrical Construction Company 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 - Cooper Electrical Construction Company in Greensboro, NC

Cooper Electrical Construction Company
1706 E. Wendover Ave
Greensboro, NC 27405

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: NC-06

Similar Companies near Greensboro

In the Greensboro area, 10 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 39 employees (compared to this company's 303) and received an average PPP loan of $501,824 (compared to this company's $3.65M).

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, 96% lower than Cooper Electrical Construction Company's reported 303 employees, and received an average PPP loan of $181,171, 95% lower than this company's loan of $3.65M.

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/cooper-electrical-construction-company-greensboro-nc