PPP Loan Data — Melco Plumbing And Heating Inc, Lincoln, RI
Melco Plumbing And Heating Inc
Location: Lincoln, RITweet This • Search All PPP Data
Melco Plumbing And Heating Inc is a corporation located at 19 Raymond St in Lincoln, Rhode Island that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in January, 2021.
PPP Loan Information
Loan Status:Ongoing Loan
Melco Plumbing And Heating Inc in Lincoln, RI received a Paycheck Protection Loan of $25,000 through Pawtucket CU, which was approved in January, 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, Melco Plumbing And Heating Inc's 2019 payroll expenses are estimated to be at least $120,000.
Reported PPP Proceed Usage:
On the PPP application, Melco Plumbing And Heating Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,998
Business Information - Melco Plumbing And Heating Inc in Lincoln, RI
19 Raymond St
Lincoln, RI 2865
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 Lincoln
In the Lincoln area, 14 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 2) and received an average PPP loan of $50,854 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
R G Clegg And Daughters Plumbing And Heating
Mckee Brothers Oil Corporation
Alliance Plumbing And Heating
Total Comfort Heating & Cooling, Inc
T. H. Malloy & Sons, 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, 400% higher than Melco Plumbing And Heating Inc's reported 2 employees, and received an average PPP loan of $123,520, 394% higher than this company's loan of $25,000.
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Footnotes & Information
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