PPP Loan Data — Harris & Hart, Inc., Ogden, UT
Harris & Hart, Inc.
Entity: Subchapter S Corporation
Location: Ogden, UTTweet This • Search All PPP Data
Harris & Hart, Inc. is a subchapter s corporation located at 1759 West 1200 South in Ogden, Utah that received a Coronavirus-related PPP loan from the SBA of $7,747,300.00 in April, 2020.
$ PPP Loan Information
Lender:KEYBANK NATIONAL ASSOCIATION
Harris & Hart, Inc. in Ogden, UT received a Paycheck Protection Loan of $7.75M through KEYBANK NATIONAL ASSOCIATION, which was approved in April, 2020.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 276 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 372.
Based on standard PPP eligibility rules, Harris & Hart, Inc.'s total 2019 payroll expenses were approximately $37.19M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 276 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - Harris & Hart, Inc. in Ogden, UT
1759 West 1200 South
Ogden, UT 84404
Plumbing, Heating, and Air-Conditioning Contractors (NAICS code 238220)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: UT-01
Similar Companies near Ogden
In the Ogden area, 21 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a PPP loan. These local businesses reported an average of 27 employees (compared to this company's 276) and received an average PPP loan of $492,478 (compared to this company's $7.75M).
Similar Nearby Businesses Who Received PPP Funding:
Mountain Valley Mechanical, Inc.
New City HVAC LLC
Pitcher Plumbing LLC
Aspen Ridge Plumbing & Radiant Heat, Inc
Exceptional Service Heating And Air Inc
Pleasant View, UT
Morrell & Sons, Inc
S & B Plumbing LLC
Fremont Heating & Air Conditioning Inc
Industry PPP Comparison Statistics
Nationwide, 60,482 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a total of $9,373,583,135.00 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 11 employees, 96% lower than Harris & Hart, Inc.'s reported 276 employees, and received an average PPP loan of $154,981, 98% lower than this company's loan of $7.75M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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