PPP Loan Data — Nichols Plumbing Inc, Statesville, NC
Nichols Plumbing Inc
Entity: Subchapter S Corporation
Location: Statesville, NCTweet This • Search All PPP Data
Nichols Plumbing Inc is a subchapter s corporation located at 3889 Old Taylorsville Hwy 90 in Statesville, North Carolina that received a Coronavirus-related PPP loan from the SBA of $46,400.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First-Citizens Bank & Trust Company
Nichols Plumbing Inc in Statesville, NC received a Paycheck Protection Loan of $46,400 through First-Citizens Bank & Trust Company, 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, Nichols Plumbing Inc's 2019 payroll expenses are estimated to be at least $222,720.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $31,817 per employee1
Reported PPP Proceed Usage:
On the PPP application, Nichols Plumbing Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,400
Business Information - Nichols Plumbing Inc in Statesville, NC
3889 Old Taylorsville Hwy 90
Statesville, NC 28625
Plumbing, Heating, and Air-Conditioning Contractors
NAICS code 238220
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Statesville
In the Statesville area, 11 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 7) and received an average PPP loan of $66,525 (compared to this company's $46,400).
Similar Nearby Businesses Who Received PPP Funding:
Buchanan HVAC LLC
Parlier Plumbing & Heating, LLC
Mohawk Plumbing Mechanical Contractors Inc
Scott Brothers Heating & Air, Inc
Carolinas Refrigeration LLC
Eric D. Fausnight Plumbing, Inc
New River Heating & Cooling LLC
Griffin Heating And Air Conditioning Inc
Industry PPP Comparison Statistics
Nationwide, 105,811 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a total of $13.07B 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 10 employees, 43% higher than Nichols Plumbing Inc's reported 7 employees, and received an average PPP loan of $123,520, 166% higher than this company's loan of $46,400.
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