PPP Loan Data — Merchant Electric LLC, Windham, ME
Merchant Electric LLC
Location: Windham, METweet This • Search All PPP Data
Merchant Electric LLC is a corporation located at 6 Sabbady Point Rd in Windham, Maine that received a Coronavirus-related PPP loan from the SBA of $46,000.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least seven people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Gorham Savings Bank
Merchant Electric LLC in Windham, ME received a Paycheck Protection Loan of $46,000 through Gorham 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 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, Merchant Electric LLC's 2019 payroll expenses are estimated to be at least $220,800.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $31,543 per employee1
Reported PPP Proceed Usage:
On the PPP application, Merchant Electric LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,000
Business Information - Merchant Electric LLC in Windham, ME
6 Sabbady Point Rd
Windham, ME 4062
Electrical Contractors and Other Wiring Installation Contractors
NAICS code 238210
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Windham
In the Windham area, 12 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 7) and received an average PPP loan of $20,335 (compared to this company's $46,000).
Similar Nearby Businesses Who Received PPP Funding:
Kevin Grant Electrical Services, Inc
JT Hayman Inc
N Windham, ME
Dederick J. Eastup
JW Electric, Inc
Wyman Electric LLC
James F Lawler Jr Inc
Advanced Elec Contractors LLC
Industry PPP Comparison Statistics
Nationwide, 82,626 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a total of $11.77B 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 11 employees, 57% higher than Merchant Electric LLC's reported 7 employees, and received an average PPP loan of $142,494, 210% higher than this company's loan of $46,000.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!