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PPP Loan Data — Maddox Electric Company Inc,
Winter Garden, FL
Maddox Electric Company Inc
Entity: Corporation
Industry: Electrical Contractors and Other Wiring Installation Contractors
Location: Winter Garden, FL
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Maddox Electric Company Inc is a corporation located at 710 Garden Commerce Pkwy in Winter Garden, Florida that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in March, 2021.
$
PPP Loan Information
Loan #8924768601
Loan Size:
Jobs Retained:
123Loan Approved:
2021-03-25Loan Status:
Paid in Full or ForgivenLender:
Ameris BankMaddox Electric Company Inc in Winter Garden, FL received a Paycheck Protection Loan of $2M through Ameris Bank, which was approved in March, 2021.
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 April, 2022.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Maddox Electric Company Inc's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 123 jobs retained, this equals an estimated average yearly compensation of $78,049 per employee1
Reported PPP Proceed Usage:
On the PPP application, Maddox Electric Company Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,995
- Utilities: $1
Business Information - Maddox Electric Company Inc in Winter Garden, FL
710 Garden Commerce Pkwy
Winter Garden, FL 34787
Business Industry:
Electrical Contractors and Other Wiring Installation Contractors
NAICS code 238210
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Winter Garden
In the Winter Garden area, 32 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 19 employees (compared to this company's 123) and received an average PPP loan of $263,285 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Emilio Gonzalez
Winter Garden, FL
Eco Electric LLC
Windermere, FL
Gigliola Cardenas
Winter Garden, FL
Joe Ciceri Public Service Inc
Leesburg, FL
Charles Gerardi
Leesburg, FL
Hickey Electric Incorporated
Winter Garden, FL
P&S Group Enterprises, LLC
Winter Garden, FL
Candela Controls, Inc
Winter Garden, FL
Edward Patti
Winter Garden, FL
Industry PPP Comparison Statistics
Nationwide, 81,475 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a total of $11.74B 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 Maddox Electric Company Inc's reported 123 employees, and received an average PPP loan of $144,140, 93% lower than this company's loan of $2M.
Maddox Electric Company Inc
Entity: Corporation
Industry: Electrical Contractors and Other Wiring Installation Contractors
Location: Winter Garden, FL
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•
Search All PPP Data
Maddox Electric Company Inc is a corporation located at 710 Garden Commerce Parkway in Winter Garden, Florida that received a Coronavirus-related PPP loan from the SBA of $4,113,100.00 in April, 2020.
$
PPP Loan Information
Loan #5145857006
Loan Size:
Jobs Retained:
239Loan Approved:
2020-04-05Loan Status:
Paid in Full or ForgivenLender:
Ameris BankMaddox Electric Company Inc in Winter Garden, FL received a Paycheck Protection Loan of $4.11M through Ameris Bank, 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 July, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Maddox Electric Company Inc's 2019 payroll expenses are estimated to be at least $19.74M.
Based on their reported 239 jobs retained, this equals an estimated average yearly compensation of $82,606 per employee1
Reported PPP Proceed Usage:
On the PPP application, Maddox Electric Company Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,290,494
- Utilities: $411,303
- Rent: $411,303
Business Information - Maddox Electric Company Inc in Winter Garden, FL
710 Garden Commerce Parkway
Winter Garden, FL 34787
Business Industry:
Electrical Contractors and Other Wiring Installation Contractors
NAICS code 238210
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Winter Garden
In the Winter Garden area, 32 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 19 employees (compared to this company's 239) and received an average PPP loan of $263,285 (compared to this company's $4.11M).
Similar Nearby Businesses Who Received PPP Funding:
Emilio Gonzalez
Winter Garden, FL
Eco Electric LLC
Windermere, FL
Gigliola Cardenas
Winter Garden, FL
Joe Ciceri Public Service Inc
Leesburg, FL
Charles Gerardi
Leesburg, FL
Hickey Electric Incorporated
Winter Garden, FL
P&S Group Enterprises, LLC
Winter Garden, FL
Candela Controls, Inc
Winter Garden, FL
Edward Patti
Winter Garden, FL
Industry PPP Comparison Statistics
Nationwide, 81,475 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a total of $11.74B 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, 95% lower than Maddox Electric Company Inc's reported 239 employees, and received an average PPP loan of $144,140, 96% lower than this company's loan of $4.11M.
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. Estimations for informational purposes only. 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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