PPP Loan Data — Edward Thomas Richards, Sacramento, CA
Edward Thomas Richards
Entity: Sole Proprietorship
Location: Sacramento, CATweet This • Search All PPP Data
Edward Thomas Richards is a sole proprietorship located in Sacramento, California that received a Coronavirus-related PPP loan from the SBA of $22,308.00 in August, 2020.
The company has reported itself as a White male owned business, and employed at least one person during the applicable loan loan period.
$ PPP Loan Information
Lender:U.S. BANK, NATIONAL ASSOCIATION
Edward Thomas Richards received a Paycheck Protection Loan of $22,308 through U.S. BANK, NATIONAL ASSOCIATION, which was approved in August, 2020.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 1 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
Business Information - Edward Thomas Richards in Sacramento, CA
* Full address is redacted to protect the privacy of individuals.
Plumbing, Heating, and Air-Conditioning Contractors (NAICS code 238220)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional District: CA-07
Similar Companies near Sacramento
In the Sacramento area, 18 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a PPP loan. These local businesses reported an average of 28 employees (compared to this company's 1) and received an average PPP loan of $569,429 (compared to this company's $22,308).
Similar Nearby Businesses Who Received PPP Funding:
RJA Heating & Air Inc
DDK Mechanical, Inc.
Royal Breeze Inc
Upton Home Services, Inc.
Honest And Fair Heating And Air
Circo System Balance Inc
Cooper Oates Air Conditioning Inc.
TNT Industrial Contractors, Inc
Air Cool Heating & Cooling 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, 1000% higher than Edward Thomas Richards' reported 1 employees, and received an average PPP loan of $154,981, 595% higher than this company's loan of $22,308.
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. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
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.
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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