PPP Loan Data — Maine Energy Performance Solutions, LLC, Washington, ME
Maine Energy Performance Solutions, LLC is a limited liability company (LLC) located at 598 Augusta Rd in Washington, Maine that received a Coronavirus-related PPP loan from the SBA of $25,179.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Machias Savings Bank
Maine Energy Performance Solutions, LLC in Washington, ME received a Paycheck Protection Loan of $25,179 through Machias Savings 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 February, 2021.
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, Maine Energy Performance Solutions, LLC's 2019 payroll expenses are estimated to be at least $120,859.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,215 per employee1
Reported PPP Proceed Usage:
On the PPP application, Maine Energy Performance Solutions, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,179
Business Information - Maine Energy Performance Solutions, LLC in Washington, ME
598 Augusta Rd
Washington, ME 4574
Solar Electric Power Generation
NAICS code 221114
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 2,779 businesses in the "Solar Electric Power Generation" industry received a total of $274.42M 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 8 employees, 100% higher than Maine Energy Performance Solutions, LLC's reported 4 employees, and received an average PPP loan of $98,748, 292% higher than this company's loan of $25,179.
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Footnotes & Information
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