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PPP Loan Data — Electro-Mechanical Corporation,
Bristol, VA
Electro-Mechanical Corporation
Entity: Corporation
Industry: Power, Distribution, and Specialty Transformer Manufacturing
Location: Bristol, VA
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Electro-Mechanical Corporation is a corporation located at One Goodson St. in Bristol, Virginia that received a Coronavirus-related PPP loan from the SBA of $5,705,000.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
463Loan Approved:
2020-04-13Lender:
REGIONS BANKElectro-Mechanical Corporation received a Paycheck Protection Loan of $5.71M through REGIONS BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Electro-Mechanical Corporation's total 2019 payroll expenses were approximately $27.38M in order to qualify for the PPP loan amount received.
Based on their reported 463 jobs retained, this equals an estimated average yearly compensation of $59,145 per employee1.
Business Information - Electro-Mechanical Corporation in Bristol, VA
One Goodson St.
Bristol, VA 24201
Business Industry
Power, Distribution, and Specialty Transformer Manufacturing (NAICS code 335311)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: VA-09Industry PPP Comparison Statistics
Nationwide, 287 businesses in the "Power, Distribution, and Specialty Transformer Manufacturing" industry received a total of $137,311,096.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 33 employees, 93% lower than Electro-Mechanical Corporation's reported 463 employees, and received an average PPP loan of $478,436, 92% lower than this company's loan of $5.71M.
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.
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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