PPP Loan Data — Magnolia Plumbing Inc., Washington, DC
Magnolia Plumbing Inc.
Entity: Subchapter S Corporation
Location: Washington, DCTweet This • Search All PPP Data
Magnolia Plumbing Inc. is a subchapter s corporation located at 600 Gallatin St., N.e. in Washington, District of Columbia that received a Coronavirus-related PPP loan from the SBA of $2,762,100.00 in April, 2020.
$ PPP Loan Information
Lender:TRUIST BANK D/B/A BRANCH BANKING & TRUST CO
Magnolia Plumbing Inc. received a Paycheck Protection Loan of $2.76M through TRUIST BANK D/B/A BRANCH BANKING & TRUST CO, which was approved in April, 2020.
Based on standard PPP eligibility rules, Magnolia Plumbing Inc.'s total 2019 payroll expenses were approximately $13.26M in order to qualify for the PPP loan amount received.
Based on their reported 184 jobs retained, this equals an estimated average yearly compensation of $72,055 per employee1.
Business Information - Magnolia Plumbing Inc. in Washington, DC
600 Gallatin St., N.e.
Washington, DC 20017
Plumbing, Heating, and Air-Conditioning Contractors (NAICS code 238220)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: DC-
Similar Companies near Washington
In the Washington area, 4 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a PPP loan. These local businesses reported an average of 151 employees (compared to this company's 184) and received an average PPP loan of $2,822,707 (compared to this company's $2.76M).
Similar Nearby Businesses Who Received PPP Funding:
Joseph J Magnolia, Inc.
R&R Mechanical LLC
I & B Associates Inc
Industry PPP Comparison Statistics
Nationwide, 60,482 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a total of $9,373,583,135.00 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 11 employees, 94% lower than Magnolia Plumbing Inc.'s reported 184 employees, and received an average PPP loan of $154,981, 94% lower than this company's loan of $2.76M.
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