NY

Knight Electrical Services Corp

Entity: Corporation

Industry: Electrical Contractors and Other Wiring Installation Contractors

Location: New York, NY

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Knight Electrical Services Corp is a corporation located at 599 11th Ave Fl 7 in New York, New York that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in January, 2021.

The company has reported itself as a male veteran owned business, and employed at least 212 people during the applicable loan loan period.

$ PPP Loan Information Loan #4961298309

Knight Electrical Services Corp in New York, NY received a Paycheck Protection Loan of $2M through The National Bank of Coxsackie, which was approved in January, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

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, Knight Electrical Services Corp's 2019 payroll expenses are estimated to be at least $9.6M.

Based on their reported 212 jobs retained, this equals an estimated average yearly compensation of $45,283 per employee¹

Reported PPP Proceed Usage:

On the PPP application, Knight Electrical Services Corp reported intending to use the proceeds of their PPP loan for the following expenses:

• Payroll: $1,999,998
• Utilities: $1

Business Information - Knight Electrical Services Corp in New York, NY

Similar Companies near New York

In the New York area, 18 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 66 employees (compared to this company's 212) and received an average PPP loan of $992,909 (compared to this company's $2M).

Industry PPP Comparison Statistics

Nationwide, 71,092 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a total of $11,329,851,737.00 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 13 employees, 94% lower than Knight Electrical Services Corp's reported 212 employees, and received an average PPP loan of $159,369, 92% lower than this company's loan of $2M.