PPP Loan Data — Hometown Heating & AC Inc, Willards, MD
Hometown Heating & AC Inc
Entity: Subchapter S Corporation
Location: Willards, MDTweet This • Search All PPP Data
Hometown Heating & AC Inc is a subchapter s corporation located at 5962 Massey Crossing Rd in Willards, Maryland that received a Coronavirus-related PPP loan from the SBA of $24,913.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:The Farmers Bank of Willards
Hometown Heating & AC Inc in Willards, MD received a Paycheck Protection Loan of $24,913 through The Farmers Bank of Willards, 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 April, 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, Hometown Heating & AC Inc's 2019 payroll expenses are estimated to be at least $119,582.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $29,896 per employee1
Reported PPP Proceed Usage:
On the PPP application, Hometown Heating & AC Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $18,685
- Utilities: $6,228
Business Information - Hometown Heating & AC Inc in Willards, MD
5962 Massey Crossing Rd
Willards, MD 21874
Plumbing, Heating, and Air-Conditioning Contractors
NAICS code 238220
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Willards
In the Willards area, 6 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 4) and received an average PPP loan of $16,923 (compared to this company's $24,913).
Similar Nearby Businesses Who Received PPP Funding:
Lewis HVAC Services LLC
East Coast Heating &AC LLC
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, 150% higher than Hometown Heating & AC Inc's reported 4 employees, and received an average PPP loan of $123,520, 396% higher than this company's loan of $24,913.
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Footnotes & Information
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