PPP Loan Data — Mcdonald Electrical Corperation, Hingham, MA
Mcdonald Electrical Corperation
Location: Hingham, MATweet This • Search All PPP Data
Mcdonald Electrical Corperation is a corporation located at 72 Sharp Street in Hingham, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $10,000,000.00 in April, 2020.
$ PPP Loan Information
Jobs Retained:0 Unreported
Lender:ROCKLAND TRUST COMPANY
Mcdonald Electrical Corperation in Hingham, MA received a Paycheck Protection Loan of $10M through ROCKLAND TRUST COMPANY, which was approved in April, 2020.
Based on standard PPP eligibility rules, Mcdonald Electrical Corperation's total 2019 payroll expenses were approximately $48M in order to qualify for the PPP loan amount received.
Unlike most businesses, Mcdonald Electrical Corperation's PPP data does not report the number of jobs retained by their receipt of the Paycheck Protection Loan (some banks did not release this infomation from their loan applications). Without this data, per-employee payrolls for this company cannot be estimated.
Business Information - Mcdonald Electrical Corperation in Hingham, MA
72 Sharp Street
Hingham, MA 02043
Electrical Contractors and Other Wiring Installation Contractors (NAICS code 238210)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: MA-08
Similar Companies near Hingham
In the Hingham area, 6 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 0) and received an average PPP loan of $1,771,404 (compared to this company's $10M).
Similar Nearby Businesses Who Received PPP Funding:
D S Bennett Electric Inc
Accord Electric Co
Chris Hersey Electric LLC
Kris Johnson Electrical, Mechanical Serv
Cahill Electric Services Inc
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, and received an average PPP loan of $181,171, 98% lower than this company's loan of $10M.
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, and is published unmodified, as provided by the SBA.
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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