PPP Loan Data — Eddies Refrigeration, Heating & Air, Inc, Gaylesville, AL
Eddies Refrigeration, Heating & Air, Inc
Location: Gaylesville, ALTweet This • Search All PPP Data
Eddies Refrigeration, Heating & Air, Inc is a corporation located at 5185 Main St in Gaylesville, Alabama that received a Coronavirus-related PPP loan from the SBA of $24,900.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Peoples Bank of Alabama
Eddies Refrigeration, Heating & Air, Inc in Gaylesville, AL received a Paycheck Protection Loan of $24,900 through Peoples Bank of Alabama, 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 November, 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, Eddies Refrigeration, Heating & Air, Inc's 2019 payroll expenses are estimated to be at least $119,520.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $39,840 per employee1
Reported PPP Proceed Usage:
On the PPP application, Eddies Refrigeration, Heating & Air, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $18,675
- Utilities: $6,225
Business Information - Eddies Refrigeration, Heating & Air, Inc in Gaylesville, AL
5185 Main St
Gaylesville, AL 35973
Plumbing, Heating, and Air-Conditioning Contractors
NAICS code 238220
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Rural
Similar Companies near Gaylesville
In the Gaylesville area, 2 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 3) and received an average PPP loan of $29,924 (compared to this company's $24,900).
Similar Nearby Businesses Who Received PPP Funding:
Sauls Mechanical Contractors Inc
Industry PPP Comparison Statistics
Nationwide, 105,811 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a total of $13.07B 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 10 employees, 233% higher than Eddies Refrigeration, Heating & Air, Inc's reported 3 employees, and received an average PPP loan of $123,520, 396% higher than this company's loan of $24,900.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!