PPP Loan Data — Melton Electric Inc., Houston, TX
Melton Electric Inc.
Location: Houston, TXTweet This • Search All PPP Data
Melton Electric Inc. is a corporation located at 2309 Karbach St in Houston, Texas that received a Coronavirus-related PPP loan from the SBA of $3,697,467.00 in May, 2020.
$ PPP Loan Information
Lender:HANCOCK WHITNEY BANK
Melton Electric Inc. in Houston, TX received a Paycheck Protection Loan of $3.7M through HANCOCK WHITNEY BANK, which was approved in May, 2020.
Based on standard PPP eligibility rules, Melton Electric Inc.'s total 2019 payroll expenses were approximately $17.75M in order to qualify for the PPP loan amount received.
Based on their reported 275 jobs retained, this equals an estimated average yearly compensation of $64,538 per employee1.
Business Information - Melton Electric Inc. in Houston, TX
2309 Karbach St
Houston, TX 77092
Electrical Contractors and Other Wiring Installation Contractors (NAICS code 238210)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: TX-18
Similar Companies near Houston
In the Houston area, 21 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 33 employees (compared to this company's 275) and received an average PPP loan of $475,755 (compared to this company's $3.7M).
Similar Nearby Businesses Who Received PPP Funding:
Advantage Security Integration LTD
Merit Electric Company
Cicle Of Love
J S Electrical Contractors Inc
Quality Cable Installers LLC
Gonzales Commercial Electric, LLC
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, 96% lower than Melton Electric Inc.'s reported 275 employees, and received an average PPP loan of $181,171, 95% lower than this company's loan of $3.7M.
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.
Have FederalPay.org's open data tools been valuable? Consider donating!