PPP Loan Data — EH Electric, Waltham, MA
Entity: Sole Proprietorship
Location: Waltham, MATweet This • Search All PPP Data
EH Electric is a sole proprietorship located at 18 Sunset Rd in Waltham, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $37,500.00 in April, 2020.
$ PPP Loan Information
Lender:WEBSTER BANK, NATIONAL ASSOCIATION
EH Electric received a Paycheck Protection Loan of $37,500 through WEBSTER BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 0.
Based on standard PPP eligibility rules, EH Electric's total 2019 payroll expenses were approximately $180,000 in order to qualify for the PPP loan amount received.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $60,000 per employee1.
Business Information - EH Electric in Waltham, MA
18 Sunset Rd
Waltham, MA 2451
Electrical Contractors and Other Wiring Installation Contractors (NAICS code 238210)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: MA-05
Similar Companies near Waltham
In the Waltham area, 13 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 13 employees (compared to this company's 3) and received an average PPP loan of $435,691 (compared to this company's $37,500).
Similar Nearby Businesses Who Received PPP Funding:
Wheaton Electrical Service, Inc.
Amps Electric, Inc.
Bryan J Ferrera
Gallagher Electrical LLC
B.A. Piantedosi, Jr. Master Electrician
Difoggio Electric, Inc
George Margios Electrical Inc
Pat Patuto And Son 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, 300% higher than EH Electric's reported 3 employees, and received an average PPP loan of $181,171, 383% higher than this company's loan of $37,500.
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.
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