PPP Loan Data — Leach & Russell Mechanical Contractors, Inc, Fishers, IN
Leach & Russell Mechanical Contractors, Inc
Entity: Subchapter S Corporation
Location: Fishers, INTweet This • Search All PPP Data
Leach & Russell Mechanical Contractors, Inc is a subchapter s corporation located at 9151 Ford Circle in Fishers, Indiana that received a Coronavirus-related PPP loan from the SBA of $2,250,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Leach & Russell Mechanical Contractors, Inc in Fishers, IN received a Paycheck Protection Loan of $2.25M through Centier Bank, 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, Leach & Russell Mechanical Contractors, Inc's 2019 payroll expenses are estimated to be at least $10.8M.
Based on their reported 139 jobs retained, this equals an estimated average yearly compensation of $77,698 per employee1
Reported PPP Proceed Usage:
On the PPP application, Leach & Russell Mechanical Contractors, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,250,000
Business Information - Leach & Russell Mechanical Contractors, Inc in Fishers, IN
9151 Ford Circle
Fishers, IN 46038
Plumbing, Heating, and Air-Conditioning Contractors
NAICS code 238220
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Fishers
In the Fishers area, 18 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a PPP loan. These local businesses reported an average of 15 employees (compared to this company's 139) and received an average PPP loan of $205,168 (compared to this company's $2.25M).
Similar Nearby Businesses Who Received PPP Funding:
The Million Dollar Plumber, LLC
Service 1 Plumbing
Roger M Cox - HVAC Consultant
Action Air, Inc
Mccurdy Mechanical Corp
ECS Mechanical Inc
Industry PPP Comparison Statistics
Nationwide, 105,811 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a total of $13.07B 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 10 employees, 93% lower than Leach & Russell Mechanical Contractors, Inc's reported 139 employees, and received an average PPP loan of $123,520, 95% lower than this company's loan of $2.25M.
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Footnotes & Information
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