PPP Loan Data — Kasselman Electric Co., Inc., Menands, NY
Kasselman Electric Co., Inc.
Entity: Subchapter S Corporation
Location: Menands, NYTweet This • Search All PPP Data
Kasselman Electric Co., Inc. is a subchapter s corporation located at 279 Broadway in Menands, New York that received a Coronavirus-related PPP loan from the SBA of $4,267,287.00 in April, 2020.
$ PPP Loan Information
Lender:CHEMUNG CANAL TRUST COMPANY
Kasselman Electric Co., Inc. in Menands, NY received a Paycheck Protection Loan of $4.27M through CHEMUNG CANAL TRUST COMPANY, which was approved in April, 2020.
Based on standard PPP eligibility rules, Kasselman Electric Co., Inc.'s total 2019 payroll expenses were approximately $20.48M in order to qualify for the PPP loan amount received.
Based on their reported 231 jobs retained, this equals an estimated average yearly compensation of $88,671 per employee1.
Business Information - Kasselman Electric Co., Inc. in Menands, NY
Menands, NY 12204
Electrical Contractors and Other Wiring Installation Contractors (NAICS code 238210)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: NY-20
Similar Companies near Menands
In the Menands area, 15 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 27 employees (compared to this company's 231) and received an average PPP loan of $443,792 (compared to this company's $4.27M).
Similar Nearby Businesses Who Received PPP Funding:
Arcon Electric LLCF
Pembrook Electric Co., Inc.
NBS Electrical Contracting, Inc.
Adirondack Cabling, Inc.
RMD Electric III, LLC
Okeefe Electric, LLC
High Voltage Electric Service, Inc.
S & B Contracting, Inc.
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, 95% lower than Kasselman Electric Co., Inc.'s reported 231 employees, and received an average PPP loan of $181,171, 96% lower than this company's loan of $4.27M.
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