PPP Loan Data — Laser Electric, Inc, Escondido, CA
Laser Electric, Inc
Location: Escondido, CATweet This • Search All PPP Data
Laser Electric, Inc is a corporation located at 2250 Micro Pl. #200 in Escondido, California that received a Coronavirus-related PPP loan from the SBA of $1,533,137.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 117 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Loan Source Incorporated
Laser Electric, Inc in Escondido, CA received a Paycheck Protection Loan of $1.53M through Loan Source Incorporated, 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, Laser Electric, Inc's 2019 payroll expenses are estimated to be at least $7.36M.
Based on their reported 117 jobs retained, this equals an estimated average yearly compensation of $62,898 per employee1
Reported PPP Proceed Usage:
On the PPP application, Laser Electric, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,043,966
- Utilities: $15,341
- Rent: $142,860
- Health Care: $330,970
Business Information - Laser Electric, Inc in Escondido, CA
2250 Micro Pl. #200
Escondido, CA 92029
Electrical Contractors and Other Wiring Installation Contractors
NAICS code 238210
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Escondido
In the Escondido area, 29 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 25 employees (compared to this company's 117) and received an average PPP loan of $393,455 (compared to this company's $1.53M).
Similar Nearby Businesses Who Received PPP Funding:
Palomar Solar LTD
Roberts Electrical Contracting
Advanced Data & Electric Corp
Daniel Morones Electric
Keith Smith & Son, Inc
Skelly Electric Inc
CWD Loma, Inc
Francis E Sabato Electrical Contractor
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 Laser Electric, Inc's reported 117 employees, and received an average PPP loan of $142,494, 91% lower than this company's loan of $1.53M.
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