PPP Loan Data — Harrell's Heating And Cooling And Appliance, Montgomery, AL
Harrell's Heating And Cooling And Appliance
Entity: Subchapter S Corporation
Location: Montgomery, ALTweet This • Search All PPP Data
Harrell's Heating And Cooling And Appliance is a subchapter s corporation located at 2918 Lower Wetumpka Rd in Montgomery, Alabama that received a Coronavirus-related PPP loan from the SBA of $25,300.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:River Bank & Trust
Harrell's Heating And Cooling And Appliance in Montgomery, AL received a Paycheck Protection Loan of $25,300 through River Bank & Trust, which was approved in April, 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 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, Harrell's Heating And Cooling And Appliance's 2019 payroll expenses are estimated to be at least $121,440.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $17,349 per employee1
Reported PPP Proceed Usage:
On the PPP application, Harrell's Heating And Cooling And Appliance reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,300
Business Information - Harrell's Heating And Cooling And Appliance in Montgomery, AL
2918 Lower Wetumpka Rd
Montgomery, AL 36110
Plumbing, Heating, and Air-Conditioning Contractors
NAICS code 238220
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Montgomery
In the Montgomery area, 7 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a PPP loan. These local businesses reported an average of 10 employees (compared to this company's 7) and received an average PPP loan of $92,341 (compared to this company's $25,300).
Similar Nearby Businesses Who Received PPP Funding:
Meyers Comfort Specialist Of Montgomery, LLC
Cole Plumbing, Inc
J&K Heating & Cooling
Tillery Heating And Air Conditioning Inc
Industry PPP Comparison Statistics
Nationwide, 105,811 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a total of $13.07B 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 10 employees, 43% higher than Harrell's Heating And Cooling And Appliance's reported 7 employees, and received an average PPP loan of $123,520, 388% higher than this company's loan of $25,300.
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