PPP Loan Data — JL Minter Electrical Contractor, Inc., Richmond, VA
JL Minter Electrical Contractor, Inc.
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JL Minter Electrical Contractor, Inc. is a corporation located at 5010 Old Midlothian Trpk in Richmond, Virginia that received a Coronavirus-related PPP loan from the SBA of $326,700.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 37 people during the applicable loan loan period.
$ PPP Loan Information
Lender:NEW HORIZON BANK, NATIONAL ASSOCIATION
JL Minter Electrical Contractor, Inc. received a Paycheck Protection Loan of $326,700 through NEW HORIZON BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, JL Minter Electrical Contractor, Inc.'s total 2019 payroll expenses were approximately $1.57M in order to qualify for the PPP loan amount received.
Based on their reported 37 jobs retained, this equals an estimated average yearly compensation of $42,383 per employee1.
Business Information - JL Minter Electrical Contractor, Inc. in Richmond, VA
5010 Old Midlothian Trpk
Richmond, VA 23224
Electrical Contractors and Other Wiring Installation Contractors (NAICS code 238210)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: MALE OWNED
Veteran Status: UnreportedCongressional District: VA-04
Similar Companies near Richmond
In the Richmond area, 7 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 68 employees (compared to this company's 37) and received an average PPP loan of $999,300 (compared to this company's $326,700).
Similar Nearby Businesses Who Received PPP Funding:
Tate & Hill Inc
Chewning & Wilmer Inc
Haynie Electrical Services, Inc.
The Eon Group LLC
Davis & Green, Inc
Dream Electric, LLC
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, 68% lower than JL Minter Electrical Contractor, Inc.'s reported 37 employees, and received an average PPP loan of $181,171, 45% lower than this company's loan of $326,700.
FederalPay's PPP Information Policy
Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.
All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.
2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.
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