PPP Loan Data — Kleinberg Electric Inc, Brooklyn, NY
Kleinberg Electric Inc
Entity: Subchapter S Corporation
Location: Brooklyn, NYTweet This • Search All PPP Data
Kleinberg Electric Inc is a subchapter s corporation located at 850 Third Avenue Suite 405 in Brooklyn, New York that received a Coronavirus-related PPP loan from the SBA of $3,900,000.00 in April, 2020.
The company has reported itself as a White owned business, and employed at least 165 people during the applicable loan loan period.
$ PPP Loan Information
Kleinberg Electric Inc in Brooklyn, NY received a Paycheck Protection Loan of $3.9M through SIGNATURE BANK, which was approved in April, 2020.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 165 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 187.
Based on standard PPP eligibility rules, Kleinberg Electric Inc's total 2019 payroll expenses were approximately $18.72M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 165 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - Kleinberg Electric Inc in Brooklyn, NY
850 Third Avenue Suite 405
Brooklyn, NY 11232
Electrical Contractors and Other Wiring Installation Contractors (NAICS code 238210)
Business Owner Demographics
Race / Ethnicity: WHITE
Veteran Status: UnreportedCongressional District: NY-07
Similar Companies near Brooklyn
In the Brooklyn area, 30 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 43 employees (compared to this company's 165) and received an average PPP loan of $754,528 (compared to this company's $3.9M).
Similar Nearby Businesses Who Received PPP Funding:
County Electrical Contractor Inc.
Foremost Contracting & Building, LLC
Dooley Electric Co., Inc.
VIP Fire Sprinkler, Inc
Delta Phase Electrical Corporation
CEL Services Inc.
James F. Volpe Electrical Contracting Corp
Nair Electric Corp.
MAR-Kam Electrical 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, 93% lower than Kleinberg Electric Inc's reported 165 employees, and received an average PPP loan of $181,171, 95% lower than this company's loan of $3.9M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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