PPP Loan Data — Dixie Electric Company, Inc, Montgomery, AL
Dixie Electric Company, Inc
Location: Montgomery, ALTweet This • Search All PPP Data
Dixie Electric Company, Inc is a corporation located at 580 Trade Center St in Montgomery, Alabama that received a Coronavirus-related PPP loan from the SBA of $1,517,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Dixie Electric Company, Inc in Montgomery, AL received a Paycheck Protection Loan of $1.52M through ServisFirst Bank, which was approved in April, 2020.
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, Dixie Electric Company, Inc's 2019 payroll expenses are estimated to be at least $7.28M.
Based on their reported 139 jobs retained, this equals an estimated average yearly compensation of $52,386 per employee1
Reported PPP Proceed Usage:
On the PPP application, Dixie Electric Company, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,137,750
- Utilities: $75,850
- Rent: $303,400
Business Information - Dixie Electric Company, Inc in Montgomery, AL
580 Trade Center St
Montgomery, AL 36108
Electrical Contractors and Other Wiring Installation Contractors
NAICS code 238210
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Montgomery
In the Montgomery area, 4 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 36 employees (compared to this company's 139) and received an average PPP loan of $386,027 (compared to this company's $1.52M).
Similar Nearby Businesses Who Received PPP Funding:
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, 92% lower than Dixie Electric Company, Inc's reported 139 employees, and received an average PPP loan of $142,494, 91% lower than this company's loan of $1.52M.
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Footnotes & Information
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