PPP Loan Data — Electric Conduit Construction Co, Elburn, IL
Electric Conduit Construction Co
Location: Elburn, ILTweet This • Search All PPP Data
Electric Conduit Construction Co is a corporation located at 816 Hicks Dr in Elburn, Illinois that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in January, 2021.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:PNC Bank, National Association
Electric Conduit Construction Co in Elburn, IL received a Paycheck Protection Loan of $2M through PNC Bank, National Association, which was approved in January, 2021.
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, Electric Conduit Construction Co's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 203 jobs retained, this equals an estimated average yearly compensation of $47,291 per employee1
Reported PPP Proceed Usage:
On the PPP application, Electric Conduit Construction Co reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,000,000
Business Information - Electric Conduit Construction Co in Elburn, IL
816 Hicks Dr
Elburn, IL 60119
Power and Communication Line and Related Structures Construction
NAICS code 237130
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Elburn
In the Elburn area, 2 businesses in the "Power and Communication Line and Related Structures Construction" industry received a PPP loan. These local businesses reported an average of 103 employees (compared to this company's 203) and received an average PPP loan of $1,016,550 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Here To Help Inc
Sleepy Hollow, IL
Industry PPP Comparison Statistics
Nationwide, 4,817 businesses in the "Power and Communication Line and Related Structures Construction" industry received a total of $1.06B 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 17 employees, 92% lower than Electric Conduit Construction Co's reported 203 employees, and received an average PPP loan of $219,213, 89% lower than this company's loan of $2M.
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Footnotes & Information
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