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PPP Loan Data — Harbor Electronics, Inc,
Santa Clara, CA
Harbor Electronics, Inc
Entity: Subchapter S Corporation
Industry: Other Electronic Component Manufacturing
Location: Santa Clara, CA
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Harbor Electronics, Inc is a subchapter s corporation located at 3021 Kenneth St in Santa Clara, California that received a Coronavirus-related PPP loan from the SBA of $2,552,660.00 in May, 2020.
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PPP Loan Information
Loan #2252067704
Loan Size:
Jobs Retained:
169Loan Approved:
2020-05-01Loan Status:
Paid in Full or ForgivenLender:
JPMorgan Chase Bank, National AssociationHarbor Electronics, Inc in Santa Clara, CA received a Paycheck Protection Loan of $2.55M through JPMorgan Chase Bank, National Association, which was approved in May, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in July, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Harbor Electronics, Inc's 2019 payroll expenses are estimated to be at least $12.25M.
Based on their reported 169 jobs retained, this equals an estimated average yearly compensation of $72,502 per employee1
Reported PPP Proceed Usage:
On the PPP application, Harbor Electronics, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Utilities: $200,267
- Mortgage Interest: $1,930,823
- Health Care: $354,188
- Debt Interest: $67,382
Business Information - Harbor Electronics, Inc in Santa Clara, CA
3021 Kenneth St
Santa Clara, CA 95054
Business Industry:
Other Electronic Component Manufacturing
NAICS code 334419
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: N
Rural / Urban: Urban
Similar Companies near Santa Clara
In the Santa Clara area, 17 businesses in the "Other Electronic Component Manufacturing" industry received a PPP loan. These local businesses reported an average of 29 employees (compared to this company's 169) and received an average PPP loan of $488,253 (compared to this company's $2.55M).
Similar Nearby Businesses Who Received PPP Funding:
HNL Inc
Santa Clara, CA
Top Microsystems Corporation
Santa Clara, CA
Goke Us Research Laboratory
Santa Clara, CA
Berex, Inc
Santa Clara, CA
Soap Tech LLC
Santa Clara, CA
Svagos Technik Inc
Santa Clara, CA
Allegro Labs, Inc
Santa Clara, CA
Telink Micro, LLC
Santa Clara, CA
Liberty Electronic Sourcing, Inc
Santa Clara, CA
Industry PPP Comparison Statistics
Nationwide, 2,124 businesses in the "Other Electronic Component Manufacturing" industry received a total of $500.49M 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 21 employees, 88% lower than Harbor Electronics, Inc's reported 169 employees, and received an average PPP loan of $235,636, 91% lower than this company's loan of $2.55M.
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. Estimations for informational purposes only. 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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