PPP Loan Data — Lightmore Electric Associates Inc, Pearl River, NY
Lightmore Electric Associates Inc
Location: Pearl River, NYTweet This • Search All PPP Data
Lightmore Electric Associates Inc is a corporation located at Blue Hill Plz 1st Floor in Pearl River, New York that received a Coronavirus-related PPP loan from the SBA of $150,000.00 in April, 2020.
$ PPP Loan Information
Lender:JPMORGAN CHASE BANK, NATIONAL ASSOCIATION
Lightmore Electric Associates Inc received a Paycheck Protection Loan of $150,000 through JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Lightmore Electric Associates Inc's total 2019 payroll expenses were approximately $720,000 in order to qualify for the PPP loan amount received.
Based on their reported 9 jobs retained, this equals an estimated average yearly compensation of $80,000 per employee1.
Business Information - Lightmore Electric Associates Inc in Pearl River, NY
Blue Hill Plz 1st Floor
Pearl River, NY 10965
Electrical Contractors and Other Wiring Installation Contractors (NAICS code 238210)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: NY-17
Similar Companies near Pearl River
In the Pearl River area, 4 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 74 employees (compared to this company's 9) and received an average PPP loan of $2,376,017 (compared to this company's $150,000).
Similar Nearby Businesses Who Received PPP Funding:
Ryan Electrical Services
Pearl River, NY
Mehl Electric Co, Inc
Pearl River, NY
New Jersey Regional Electric Limited DBA
Pearl River, NY
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, 33% higher than Lightmore Electric Associates Inc's reported 9 employees, and received an average PPP loan of $181,171, 21% higher than this company's loan of $150,000.
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. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
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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