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PPP Loan Data — K H Electrical Systems Inc, Canton, MA

SBA PPP loan data, payroll data, and salaries for K H Electrical Systems Inc
MA

K H Electrical Systems Inc

Entity: Independent Contractor

Industry: Electrical Contractors and Other Wiring Installation Contractors

Location: Canton, MA

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K H Electrical Systems Inc is an independent contractor located in Canton, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $2,804,500.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.8M

Jobs Retained:

0 Unreported

Loan Approved:

2020-04-16

Lender:

CITIZENS BANK, NATIONAL ASSOCIATION

K H Electrical Systems Inc received a Paycheck Protection Loan of $2.8M through CITIZENS BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.


PPP Calculation Note: The total PPP loan an eligible business or individual can receive is based on 2.5 times their average monthly 2019 payroll expenses, capped at $100,000 annually per employee.
Because the loan received by K H Electrical Systems Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - K H Electrical Systems Inc in Canton, MA

K H Electrical Systems Inc
Canton, MA
* Full address is redacted to protect the privacy of individuals.

Business Industry

Electrical Contractors and Other Wiring Installation Contractors (NAICS code 238210)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MA-08

Similar Companies near Canton

In the Canton area, 14 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 39 employees (compared to this company's 0) and received an average PPP loan of $861,671 (compared to this company's $2.8M).

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, and received an average PPP loan of $181,171, 94% lower than this company's loan of $2.8M.

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.

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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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/k-h-electrical-systems-inc-canton-ma