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PPP Loan Data — Koontz Electric Company, Incorporated, Morrilton, AR

SBA PPP loan data, payroll data, and salaries for Koontz Electric Company, Incorporated
AR

Koontz Electric Company, Incorporated

Entity: Corporation

Industry: Electrical Contractors and Other Wiring Installation Contractors

Location: Morrilton, AR

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Koontz Electric Company, Incorporated is a corporation located at 1223 E Broadway in Morrilton, Arkansas that received a Coronavirus-related PPP loan from the SBA of $2,504,100.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.5M

Jobs Retained:

182

Loan Approved:

2020-04-04

Lender:

SIMMONS BANK

Koontz Electric Company, Incorporated received a Paycheck Protection Loan of $2.5M through SIMMONS BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Koontz Electric Company, Incorporated's total 2019 payroll expenses were approximately $12.02M in order to qualify for the PPP loan amount received.

Based on their reported 182 jobs retained, this equals an estimated average yearly compensation of $66,042 per employee1.

Because the loan received by Koontz Electric Company, Incorporated 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 - Koontz Electric Company, Incorporated in Morrilton, AR

Koontz Electric Company, Incorporated
1223 E Broadway
Morrilton, AR 72110

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: AR-02

Similar Companies near Morrilton

In the Morrilton area, 2 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 95 employees (compared to this company's 182) and received an average PPP loan of $1,285,648 (compared to this company's $2.5M).

Similar Nearby Businesses Who Received PPP Funding:

Centech Services, Inc
Mount Vernon, AR

$67,195 PPP Loan

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 Koontz Electric Company, Incorporated's reported 182 employees, and received an average PPP loan of $181,171, 93% lower than this company's loan of $2.5M.

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.

Search FederalPay's Full PPP Loan Database

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/koontz-electric-company-incorporated-morrilton-ar