PPP Loan Data — Denver Elek Inc, Essex, MD
Denver Elek Inc
Location: Essex, MDTweet This • Search All PPP Data
Denver Elek Inc is a corporation located at 8860 Kelso Dr in Essex, Maryland that received a Coronavirus-related PPP loan from the SBA of $2,786,687.00 in April, 2020.
$ PPP Loan Information
Lender:BANK OF AMERICA, NATIONAL ASSOCIATION
Denver Elek Inc received a Paycheck Protection Loan of $2.79M through BANK OF AMERICA, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Denver Elek Inc's total 2019 payroll expenses were approximately $13.38M in order to qualify for the PPP loan amount received.
Based on their reported 171 jobs retained, this equals an estimated average yearly compensation of $78,223 per employee1.
Business Information - Denver Elek Inc in Essex, MD
8860 Kelso Dr
Essex, MD 21221
Plumbing, Heating, and Air-Conditioning Contractors (NAICS code 238220)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: MD-02
Similar Companies near Essex
In the Essex area, 27 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a PPP loan. These local businesses reported an average of 13 employees (compared to this company's 171) and received an average PPP loan of $200,780 (compared to this company's $2.79M).
Similar Nearby Businesses Who Received PPP Funding:
Scott's Air Conditioning And Heating Inc.
Middle River, MD
A & R Mechanical, Inc.
J.T. Waterworks, Inc.
A Call 2 Arms
Modern Air Conditioning And Heating Inc
Seneca Heating And Cooling LLC
Middle River, MD
Stone Services Inc
Middle River, MD
Mike Martin Heating & Air Conditioning, LLC
Ray Stefanski Plumbing & Drain Cleaning, Inc.
Industry PPP Comparison Statistics
Nationwide, 60,482 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a total of $9,373,583,135.00 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 11 employees, 94% lower than Denver Elek Inc's reported 171 employees, and received an average PPP loan of $154,981, 94% lower than this company's loan of $2.79M.
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.
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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