PPP Loan Data — HI-Tech Electric Company, Portage, MI
HI-Tech Electric Company
Entity: Subchapter S Corporation
Location: Portage, MITweet This • Search All PPP Data
HI-Tech Electric Company is a subchapter s corporation located at 839 Lenox Ave Suite A in Portage, Michigan that received a Coronavirus-related PPP loan from the SBA of $2,426,200.00 in April, 2020.
$ PPP Loan Information
Lender:FIRST NATIONAL BANK OF MICHIGAN
HI-Tech Electric Company received a Paycheck Protection Loan of $2.43M through FIRST NATIONAL BANK OF MICHIGAN, which was approved in April, 2020.
Based on standard PPP eligibility rules, HI-Tech Electric Company's total 2019 payroll expenses were approximately $11.65M in order to qualify for the PPP loan amount received.
Based on their reported 129 jobs retained, this equals an estimated average yearly compensation of $90,277 per employee1.
Business Information - HI-Tech Electric Company in Portage, MI
839 Lenox Ave Suite A
Portage, MI 49024
Electrical Contractors and Other Wiring Installation Contractors (NAICS code 238210)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: MI-06
Industry PPP Comparison Statistics
Nationwide, 44,489 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a total of $8,060,101,877.00 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 12 employees, 91% lower than HI-Tech Electric Company's reported 129 employees, and received an average PPP loan of $181,171, 93% lower than this company's loan of $2.43M.
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