PPP Loan Data — Notch Welding & Mechanical Contractors, Inc, Chicopee, MA
Notch Welding & Mechanical Contractors, Inc
Location: Chicopee, MATweet This • Search All PPP Data
Notch Welding & Mechanical Contractors, Inc is a corporation located at 85 Lemay St in Chicopee, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $2,149,310.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Notch Welding & Mechanical Contractors, Inc in Chicopee, MA received a Paycheck Protection Loan of $2.15M through Westfield Bank, 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, Notch Welding & Mechanical Contractors, Inc's 2019 payroll expenses are estimated to be at least $10.32M.
Based on their reported 105 jobs retained, this equals an estimated average yearly compensation of $98,254 per employee1
Reported PPP Proceed Usage:
On the PPP application, Notch Welding & Mechanical Contractors, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,149,310
Business Information - Notch Welding & Mechanical Contractors, Inc in Chicopee, MA
85 Lemay St
Chicopee, MA 1013
Other Foundation, Structure, and Building Exterior Contractors
NAICS code 238190
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Chicopee
In the Chicopee area, 2 businesses in the "Other Foundation, Structure, and Building Exterior Contractors" industry received a PPP loan. These local businesses reported an average of 58 employees (compared to this company's 105) and received an average PPP loan of $1,140,362 (compared to this company's $2.15M).
Similar Nearby Businesses Who Received PPP Funding:
Seaboard Drilling Inc
Industry PPP Comparison Statistics
Nationwide, 11,071 businesses in the "Other Foundation, Structure, and Building Exterior Contractors" industry received a total of $855.1M 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 7 employees, 93% lower than Notch Welding & Mechanical Contractors, Inc's reported 105 employees, and received an average PPP loan of $77,238, 96% lower than this company's loan of $2.15M.
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Footnotes & Information
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