PPP Loan Data — Kearney Electric, Inc, Phoenix, AZ
Kearney Electric, Inc
Location: Phoenix, AZTweet This • Search All PPP Data
Kearney Electric, Inc is a corporation located at 3609 E Superior Ave in Phoenix, Arizona that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:BNC National Bank
Kearney Electric, Inc in Phoenix, AZ received a Paycheck Protection Loan of $2M through BNC National Bank, which was approved in April, 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, Kearney Electric, Inc's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 193 jobs retained, this equals an estimated average yearly compensation of $49,741 per employee1
Reported PPP Proceed Usage:
On the PPP application, Kearney Electric, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,844,000
- Rent: $25,000
- Health Care: $131,000
Business Information - Kearney Electric, Inc in Phoenix, AZ
3609 E Superior Ave
Phoenix, AZ 85040
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: Y
Rural / Urban: Urban
Similar Companies near Phoenix
In the Phoenix area, 35 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 193) and received an average PPP loan of $310,868 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
CLS Electric Corporation
Solar/Covered Parking, LLC
ROD Electric LLC
Advanced Interior Electronics California Corporation
Mypro Electric LLC
Red Mountain Lighting & Energy 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, 94% lower than Kearney Electric, Inc's reported 193 employees, and received an average PPP loan of $142,494, 93% lower than this company's loan of $2M.
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Footnotes & Information
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