PPP Loan Data — Gonzales South Texas Electric Inc, Houston, TX
Gonzales South Texas Electric Inc
Location: Houston, TXTweet This • Search All PPP Data
Gonzales South Texas Electric Inc is a corporation located at 2520 Farrell Rd in Houston, Texas 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
Gonzales South Texas Electric Inc in Houston, TX received a Paycheck Protection Loan of $2M through Frost Bank, 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, Gonzales South Texas Electric Inc's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 99 jobs retained, this equals an estimated average yearly compensation of $96,970 per employee1
Reported PPP Proceed Usage:
On the PPP application, Gonzales South Texas Electric Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,995
- Utilities: $1
Business Information - Gonzales South Texas Electric Inc in Houston, TX
2520 Farrell Rd
Houston, TX 77073
Electrical Contractors and Other Wiring Installation Contractors
NAICS code 238210
Business Owner Demographics
Ethnicity: Hispanic or Latino
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Houston
In the Houston area, 37 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 18 employees (compared to this company's 99) and received an average PPP loan of $237,140 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Tuan A Vo
United Power And Control Systems, LLC
Industry PPP Comparison Statistics
Nationwide, 82,626 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a total of $11.77B 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 11 employees, 89% lower than Gonzales South Texas Electric Inc's reported 99 employees, and received an average PPP loan of $142,494, 93% lower than this company's loan of $2M.
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Footnotes & Information
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