PPP Loan Data — Mill Plain Electric, Inc, Vancouver, WA
Mill Plain Electric, Inc
Location: Vancouver, WATweet This • Search All PPP Data
Mill Plain Electric, Inc is a corporation located at 6000 Ne 88th St Ste B105 in Vancouver, Washington that received a Coronavirus-related PPP loan from the SBA of $2,568,693.00 in April, 2020.
The company has reported itself as a White female owned business, and employed at least 138 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Loan Source Incorporated
Mill Plain Electric, Inc in Vancouver, WA received a Paycheck Protection Loan of $2.57M through Loan Source Incorporated, which was approved in April, 2020.
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, Mill Plain Electric, Inc's 2019 payroll expenses are estimated to be at least $12.33M.
Based on their reported 138 jobs retained, this equals an estimated average yearly compensation of $89,346 per employee1
Reported PPP Proceed Usage:
On the PPP application, Mill Plain Electric, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,926,520
- Utilities: $10,000
- Rent: $30,000
- Health Care: $602,173
Business Information - Mill Plain Electric, Inc in Vancouver, WA
6000 Ne 88th St Ste B105
Vancouver, WA 98665
Electrical Contractors and Other Wiring Installation Contractors
NAICS code 238210
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Vancouver
In the Vancouver area, 16 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 52 employees (compared to this company's 138) and received an average PPP loan of $799,371 (compared to this company's $2.57M).
Similar Nearby Businesses Who Received PPP Funding:
GB Manchester Inc
Positive Energy Electrical Contractors LLC
Prairie Electric, Inc
Advanced Electrical Concepts Inc
United Electric LLC
Crown Voltage Inc
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, 92% lower than Mill Plain Electric, Inc's reported 138 employees, and received an average PPP loan of $142,494, 94% lower than this company's loan of $2.57M.
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Footnotes & Information
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