PPP Loan Data — Granite City Electric Supply Co., Quincy, MA
Granite City Electric Supply Co.
Entity: Subchapter S Corporation
Industry: Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment Merchant Wholesalers
Location: Quincy, MATweet This • Search All PPP Data
Granite City Electric Supply Co. is a subchapter s corporation located at 19 Quincy Ave in Quincy, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $4,890,200.00 in April, 2020.
$ PPP Loan Information
Lender:PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION
Granite City Electric Supply Co. in Quincy, MA received a Paycheck Protection Loan of $4.89M through PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Granite City Electric Supply Co.'s total 2019 payroll expenses were approximately $23.47M in order to qualify for the PPP loan amount received.
Based on their reported 320 jobs retained, this equals an estimated average yearly compensation of $73,353 per employee1.
Business Information - Granite City Electric Supply Co. in Quincy, MA
19 Quincy Ave
Quincy, MA 02169
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: MA-08
Industry PPP Comparison Statistics
Nationwide, 4,322 businesses in the "Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment Merchant Wholesalers" industry received a total of $994,969,830.00 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 15 employees, 95% lower than Granite City Electric Supply Co.'s reported 320 employees, and received an average PPP loan of $230,211, 95% lower than this company's loan of $4.89M.
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