PPP Loan Data — Edwards Electrical & Mechanical, Inc., Indianapolis, IN
Edwards Electrical & Mechanical, Inc.
Location: Indianapolis, INTweet This • Search All PPP Data
Edwards Electrical & Mechanical, Inc. is a corporation located at 2350 N Shadeland Ave in Indianapolis, Indiana that received a Coronavirus-related PPP loan from the SBA of $4,810,500.00 in April, 2020.
$ PPP Loan Information
Lender:TRUIST BANK D/B/A BRANCH BANKING & TRUST CO
Edwards Electrical & Mechanical, Inc. in Indianapolis, IN received a Paycheck Protection Loan of $4.81M through TRUIST BANK D/B/A BRANCH BANKING & TRUST CO, which was approved in April, 2020.
Based on standard PPP eligibility rules, Edwards Electrical & Mechanical, Inc.'s total 2019 payroll expenses were approximately $23.09M in order to qualify for the PPP loan amount received.
Based on their reported 372 jobs retained, this equals an estimated average yearly compensation of $62,071 per employee1.
Business Information - Edwards Electrical & Mechanical, Inc. in Indianapolis, IN
2350 N Shadeland Ave
Indianapolis, IN 46219
Electrical Contractors and Other Wiring Installation Contractors (NAICS code 238210)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: IN-07
Similar Companies near Indianapolis
In the Indianapolis area, 12 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 41 employees (compared to this company's 372) and received an average PPP loan of $505,003 (compared to this company's $4.81M).
Similar Nearby Businesses Who Received PPP Funding:
Owens Electrical Group, LLC
Rizor-K Electric Inc
Smart Home Guy, LLC
Circle City Security Systems Inc
Laneyboy Electrical Data
T J Farrar Electrical Contracting, Inc.
Datacom Connect Inc
Industry PPP Comparison Statistics
Nationwide, 44,489 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a total of $8,060,101,877.00 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 12 employees, 97% lower than Edwards Electrical & Mechanical, Inc.'s reported 372 employees, and received an average PPP loan of $181,171, 96% lower than this company's loan of $4.81M.
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, 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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