PPP Loan Data — Genuine Quality Electrical Services, Arvada, CO
Genuine Quality Electrical Services
Location: Arvada, COTweet This • Search All PPP Data
Genuine Quality Electrical Services is a cooperative located at 7100 Grandview Ave in Arvada, Colorado that received a Coronavirus-related PPP loan from the SBA of $157,500.00 in May, 2020.
The company has reported itself as a male owned business, and employed at least ten people during the applicable loan loan period.
$ PPP Loan Information
Lender:JPMORGAN CHASE BANK, NATIONAL ASSOCIATION
Genuine Quality Electrical Services received a Paycheck Protection Loan of $157,500 through JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, which was approved in May, 2020.
Based on standard PPP eligibility rules, Genuine Quality Electrical Services' total 2019 payroll expenses were approximately $756,000 in order to qualify for the PPP loan amount received.
Based on their reported 10 jobs retained, this equals an estimated average yearly compensation of $75,600 per employee1.
Business Information - Genuine Quality Electrical Services in Arvada, CO
7100 Grandview Ave
Arvada, CO 80002
Electrical Contractors and Other Wiring Installation Contractors (NAICS code 238210)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional District: CO-07
Similar Companies near Arvada
In the Arvada area, 17 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 21 employees (compared to this company's 10) and received an average PPP loan of $300,341 (compared to this company's $157,500).
Similar Nearby Businesses Who Received PPP Funding:
We R Electric LLC
Exclusive Electric Of Denver, Inc.
KM Electric, LLC
New Energy Services Of The Rockies, LLC
Excel Control Services
Interstate Electrical Contractors Inc
Advanced Wireless Solutions, Inc.
Lucky Strike Electric, 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, 20% higher than Genuine Quality Electrical Services' reported 10 employees, and received an average PPP loan of $181,171, 15% higher than this company's loan of $157,500.
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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