PPP Loan Data — D. Anchor Electric, LLC, Warertown, CT
D. Anchor Electric, LLC is a limited liability company (LLC) located at 180 Curtiss Lane in Warertown, Connecticut that received a Coronavirus-related PPP loan from the SBA of $46,110.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Wells Fargo Bank, National Association
D. Anchor Electric, LLC in Warertown, CT received a Paycheck Protection Loan of $46,110 through Wells Fargo Bank, National Association, which was approved in May, 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, D. Anchor Electric, LLC's 2019 payroll expenses are estimated to be at least $221,328.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $36,888 per employee1
Reported PPP Proceed Usage:
On the PPP application, D. Anchor Electric, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,110
Business Information - D. Anchor Electric, LLC in Warertown, CT
180 Curtiss Lane
Warertown, CT 6795
Other Electric Power Generation
NAICS code 221118
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Warertown
In the Warertown area, 2 businesses in the "Other Electric Power Generation" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 6) and received an average PPP loan of $33,472 (compared to this company's $46,110).
Similar Nearby Businesses Who Received PPP Funding:
Cream Hill Clean Energy, LLC
West Cornwall, CT
Industry PPP Comparison Statistics
Nationwide, 2,726 businesses in the "Other Electric Power Generation" industry received a total of $255.77M 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 8 employees, 33% higher than D. Anchor Electric, LLC's reported 6 employees, and received an average PPP loan of $93,827, 103% higher than this company's loan of $46,110.
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Footnotes & Information
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