PPP Loan Data — Kraft Electrical Contracting Inc, Cincinnati, OH
Kraft Electrical Contracting Inc
Location: Cincinnati, OHTweet This • Search All PPP Data
Kraft Electrical Contracting Inc is a corporation located at 5710 Hillside Ave in Cincinnati, Ohio that received a Coronavirus-related PPP loan from the SBA of $1,594,830.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Truist Bank d/b/a Branch Banking & Trust Co
Kraft Electrical Contracting Inc in Cincinnati, OH received a Paycheck Protection Loan of $1.59M through Truist Bank d/b/a Branch Banking & Trust Co, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in January, 2021.
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, Kraft Electrical Contracting Inc's 2019 payroll expenses are estimated to be at least $7.66M.
Based on their reported 118 jobs retained, this equals an estimated average yearly compensation of $64,874 per employee1
Reported PPP Proceed Usage:
On the PPP application, Kraft Electrical Contracting Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,594,830
Business Information - Kraft Electrical Contracting Inc in Cincinnati, OH
5710 Hillside Ave
Cincinnati, OH 45233
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: N
Rural / Urban: Urban
Similar Companies near Cincinnati
In the Cincinnati area, 8 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 24 employees (compared to this company's 118) and received an average PPP loan of $308,928 (compared to this company's $1.59M).
Similar Nearby Businesses Who Received PPP Funding:
Holthaus Construction LLC
Mike Allen's Heating & Electric LLC, Inc
Delta Electrical Contractors LTD
Bonomini Electric Company, Inc
TPL Technical Services Corp
Pegasus Sign Service LLC
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, 91% lower than Kraft Electrical Contracting Inc's reported 118 employees, and received an average PPP loan of $142,494, 91% lower than this company's loan of $1.59M.
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