PPP Loan Data — Mechanical Medic LLC, Bristol, CT
Mechanical Medic LLC
Entity: Limited Liability Company (LLC)
Location: Bristol, CTTweet This • Search All PPP Data
Mechanical Medic LLC is a limited liability company (LLC) located at 31 Oakridge Rd in Bristol, Connecticut that received a Coronavirus-related PPP loan from the SBA of $25,408.00 in August, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Santander Bank, National Association
Mechanical Medic LLC in Bristol, CT received a Paycheck Protection Loan of $25,408 through Santander Bank, National Association, which was approved in August, 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 April, 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, Mechanical Medic LLC's 2019 payroll expenses are estimated to be at least $121,958.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,490 per employee1
Reported PPP Proceed Usage:
On the PPP application, Mechanical Medic LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,408
Business Information - Mechanical Medic LLC in Bristol, CT
31 Oakridge Rd
Bristol, CT 6010
Plumbing, Heating, and Air-Conditioning Contractors
NAICS code 238220
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Bristol
In the Bristol area, 22 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 4) and received an average PPP loan of $63,677 (compared to this company's $25,408).
Similar Nearby Businesses Who Received PPP Funding:
Morrissey Plumbing Services LLC
Chris Refrigeration Heating &
Elite Mechanical Contractors LLC
Thomas V. Positano Plumbing Inc
M F Dionne, LLC
Brooks Oil Service, Inc
Industry PPP Comparison Statistics
Nationwide, 105,811 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a total of $13.07B 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 10 employees, 150% higher than Mechanical Medic LLC's reported 4 employees, and received an average PPP loan of $123,520, 386% higher than this company's loan of $25,408.
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