PPP Loan Data — J.e. Hilbrich Electric, Inc, Erie, PA
J.e. Hilbrich Electric, Inc
Location: Erie, PATweet This • Search All PPP Data
J.e. Hilbrich Electric, Inc is a corporation located at 12 W 30th St in Erie, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $46,762.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
J.e. Hilbrich Electric, Inc in Erie, PA received a Paycheck Protection Loan of $46,762 through CNB Bank, which was approved in May, 2020.
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, J.e. Hilbrich Electric, Inc's 2019 payroll expenses are estimated to be at least $224,458.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $32,065 per employee1
Reported PPP Proceed Usage:
On the PPP application, J.e. Hilbrich Electric, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $41,562
- Utilities: $2,000
- Rent: $3,200
Business Information - J.e. Hilbrich Electric, Inc in Erie, PA
12 W 30th St
Erie, PA 16508
Electrical Contractors and Other Wiring Installation Contractors
NAICS code 238210
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Erie
In the Erie area, 8 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 11 employees (compared to this company's 7) and received an average PPP loan of $121,594 (compared to this company's $46,762).
Similar Nearby Businesses Who Received PPP Funding:
Zewe Electric, Inc
Jageman Electric, Inc
Church Brothers Inc
Church & Murdock Electric, Inc
Electrical & Mechanical Systems Inc
Industry PPP Comparison Statistics
Nationwide, 82,626 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a total of $11.77B 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 11 employees, 57% higher than J.e. Hilbrich Electric, Inc's reported 7 employees, and received an average PPP loan of $142,494, 205% higher than this company's loan of $46,762.
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Footnotes & Information
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