PPP Loan Data — Moon Lake Electric Association, Inc, Roosevelt, UT
Moon Lake Electric Association, Inc is a corporation located at 800 W Us Hwy 40 in Roosevelt, Utah that received a Coronavirus-related PPP loan from the SBA of $1,859,100.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Zions Bank, A Division of
Moon Lake Electric Association, Inc in Roosevelt, UT received a Paycheck Protection Loan of $1.86M through Zions Bank, A Division of, 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 June, 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, Moon Lake Electric Association, Inc's 2019 payroll expenses are estimated to be at least $8.92M.
Based on their reported 90 jobs retained, this equals an estimated average yearly compensation of $99,152 per employee1
Reported PPP Proceed Usage:
On the PPP application, Moon Lake Electric Association, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,859,100
Business Information - Moon Lake Electric Association, Inc in Roosevelt, UT
800 W Us Hwy 40
Roosevelt, UT 84066
Electric Power Distribution
NAICS code 221122
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 1,214 businesses in the "Electric Power Distribution" industry received a total of $555.64M 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 26 employees, 71% lower than Moon Lake Electric Association, Inc's reported 90 employees, and received an average PPP loan of $457,693, 75% lower than this company's loan of $1.86M.
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Footnotes & Information
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