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PPP Loan Data — MKD Electric, Inc.,
Elgin, IL
MKD Electric, Inc.
Entity: Subchapter S Corporation
Industry: Electrical Contractors and Other Wiring Installation Contractors
Location: Elgin, IL
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MKD Electric, Inc. is a subchapter s corporation located at 2590 Alft Ln. Unit A in Elgin, Illinois that received a Coronavirus-related PPP loan from the SBA of $6,654,400.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 340 people during the applicable loan loan period.
$ PPP Loan Information
Loan Size:
Jobs Retained:
340Loan Approved:
2020-04-06Lender:
ST. CHARLES BANK & TRUST COMPANY, NATIONAL ASSOCIATIONMKD Electric, Inc. in Elgin, IL received a Paycheck Protection Loan of $6.65M through ST. CHARLES BANK & TRUST COMPANY, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, MKD Electric, Inc.'s total 2019 payroll expenses were approximately $31.94M in order to qualify for the PPP loan amount received.
Based on their reported 340 jobs retained, this equals an estimated average yearly compensation of $93,944 per employee1.
Business Information - MKD Electric, Inc. in Elgin, IL
2590 Alft Ln. Unit A
Elgin, IL 60124
Business Industry
Electrical Contractors and Other Wiring Installation Contractors (NAICS code 238210)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: MALE OWNED
Veteran Status: NON-VETERAN
Congressional District: IL-14Similar Companies near Elgin
In the Elgin area, 15 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 37 employees (compared to this company's 340) and received an average PPP loan of $653,716 (compared to this company's $6.65M).
Similar Nearby Businesses Who Received PPP Funding:
Ray's Electrical Service, LLC
Elgin, IL
Omni Commercial Group, Inc.
Elgin, IL
Geraty And Company
Elgin, IL
BC Alarms Inc
Elgin, IL
Omni Commercial Lighting, Inc.
Elgin, IL
D Best Electrical Solutions Inc
Elgin, IL
Kellenberger Technologies, LLC
Elgin, IL
S & E Construction, Inc.
Elgin, IL
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 MKD Electric, Inc.'s reported 340 employees, and received an average PPP loan of $181,171, 97% lower than this company's loan of $6.65M.
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.
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