PPP Loan Data — Lowe Electric Supply Company, Macon, GA
Lowe Electric Supply Company
Entity: Subchapter S Corporation
Industry: Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment Merchant Wholesalers
Location: Macon, GATweet This • Search All PPP Data
Lowe Electric Supply Company is a subchapter s corporation located at 1525 Forsyth St in Macon, Georgia that received a Coronavirus-related PPP loan from the SBA of $2,096,854.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Persons Banking Company
Lowe Electric Supply Company in Macon, GA received a Paycheck Protection Loan of $2.1M through Persons Banking Company, 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, Lowe Electric Supply Company's 2019 payroll expenses are estimated to be at least $10.06M.
Based on their reported 163 jobs retained, this equals an estimated average yearly compensation of $61,748 per employee1
Reported PPP Proceed Usage:
On the PPP application, Lowe Electric Supply Company reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,096,854
Business Information - Lowe Electric Supply Company in Macon, GA
1525 Forsyth St
Macon, GA 31201
Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment Merchant Wholesalers
NAICS code 423610
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Macon
In the Macon area, 3 businesses in the "Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 60 employees (compared to this company's 163) and received an average PPP loan of $735,518 (compared to this company's $2.1M).
Similar Nearby Businesses Who Received PPP Funding:
Wilson Electric Company
Wilson Electric Supply Company Inc
Industry PPP Comparison Statistics
Nationwide, 7,686 businesses in the "Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment Merchant Wholesalers" industry received a total of $1.31B 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 14 employees, 91% lower than Lowe Electric Supply Company's reported 163 employees, and received an average PPP loan of $170,366, 92% lower than this company's loan of $2.1M.
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Footnotes & Information
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