PPP Loan Data — D&D Electrical Contractors Inc, Woburn, MA
D&D Electrical Contractors Inc
Entity: Subchapter S Corporation
Location: Woburn, MATweet This • Search All PPP Data
D&D Electrical Contractors Inc is a subchapter s corporation located at 10 Everberg Road in Woburn, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $1,708,600.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 110 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Citizens Bank, National Association
D&D Electrical Contractors Inc in Woburn, MA received a Paycheck Protection Loan of $1.71M through Citizens 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 March, 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&D Electrical Contractors Inc's 2019 payroll expenses are estimated to be at least $8.2M.
Based on their reported 110 jobs retained, this equals an estimated average yearly compensation of $74,557 per employee1
Reported PPP Proceed Usage:
On the PPP application, D&D Electrical Contractors Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,708,600
Business Information - D&D Electrical Contractors Inc in Woburn, MA
10 Everberg Road
Woburn, MA 1801
Electrical Contractors and Other Wiring Installation Contractors
NAICS code 238210
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Woburn
In the Woburn area, 52 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 17 employees (compared to this company's 110) and received an average PPP loan of $251,846 (compared to this company's $1.71M).
Similar Nearby Businesses Who Received PPP Funding:
Nardone Electrical Corporation
Allstate Electric Co Inc
Rivers Electrical Corp
Sonet Electrical Systems, LLC
GAT Protective Agency, 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, 90% lower than D&D Electrical Contractors Inc's reported 110 employees, and received an average PPP loan of $142,494, 92% lower than this company's loan of $1.71M.
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