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PPP Loan Data — O'connor Corporation,
Canton, MA
O'connor Corporation
Entity: Subchapter S Corporation
Industry: Power and Communication Line and Related Structures Construction
Location: Canton, MA
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O'connor Corporation is a subchapter s corporation located at 45 Industrial Dr in Canton, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in March, 2021.
$
PPP Loan Information
Loan #2795838604
Loan Size:
Jobs Retained:
177Loan Approved:
2021-03-15Loan Status:
Paid in Full or ForgivenLender:
Rockland Trust CompanyO'connor Corporation in Canton, MA received a Paycheck Protection Loan of $2M through Rockland Trust Company, which was approved in March, 2021.
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 March, 2022.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, O'connor Corporation's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 177 jobs retained, this equals an estimated average yearly compensation of $54,237 per employee1
Reported PPP Proceed Usage:
On the PPP application, O'connor Corporation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,000,000
Business Information - O'connor Corporation in Canton, MA
45 Industrial Dr
Canton, MA 2021
Business Industry:
Power and Communication Line and Related Structures Construction
NAICS code 237130
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Businesses Using Same Address:
There is one other business that received a PPP loan registered to the same address as O'connor Corporation.
Beacon Piping Company
Plumbing, Heating, and Air-Conditioning Contractors
Industry PPP Comparison Statistics
Nationwide, 4,743 businesses in the "Power and Communication Line and Related Structures Construction" industry received a total of $1.05B 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 18 employees, 90% lower than O'connor Corporation's reported 177 employees, and received an average PPP loan of $222,173, 89% lower than this company's loan of $2M.
O'connor Corporation
Entity: Subchapter S Corporation
Industry: Electrical Contractors and Other Wiring Installation Contractors
Location: Canton, MA
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O'connor Corporation is a subchapter s corporation located at 45 Industrial Drive in Canton, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $1,207,690.00 in April, 2020.
$
PPP Loan Information
Loan #4808857101
Loan Size:
Jobs Retained:
66Loan Approved:
2020-04-13Loan Status:
Paid in Full or ForgivenLender:
Rockland Trust CompanyO'connor Corporation in Canton, MA received a Paycheck Protection Loan of $1.21M through Rockland Trust Company, 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 January, 2022.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, O'connor Corporation's 2019 payroll expenses are estimated to be at least $5.8M.
Based on their reported 66 jobs retained, this equals an estimated average yearly compensation of $87,832 per employee1
Reported PPP Proceed Usage:
On the PPP application, O'connor Corporation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,207,690
Business Information - O'connor Corporation in Canton, MA
45 Industrial Drive
Canton, MA 2021
Business Industry:
Electrical Contractors and Other Wiring Installation Contractors
NAICS code 238210
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Businesses Using Same Address:
There is one other business that received a PPP loan registered to the same address as O'connor Corporation.
Beacon Piping Co
Electrical Contractors and Other Wiring Installation Contractors
Similar Companies near Canton
In the Canton area, 19 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 36 employees (compared to this company's 66) and received an average PPP loan of $663,284 (compared to this company's $1.21M).
Similar Nearby Businesses Who Received PPP Funding:
Professional Electrical Contractors Of Connecticut, Inc
Canton, MA
John J Farrell Electric Inc
Canton, MA
Florence Electric, LLC
Canton, MA
Chris Loughran Electric Inc
Canton, MA
GME Communications
Canton, MA
Abichaker Electric
Canton, MA
Michael Ashe
Canton, MA
Startec Communications Inc
Canton, MA
Industry PPP Comparison Statistics
Nationwide, 81,487 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a total of $11.75B 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, 83% lower than O'connor Corporation's reported 66 employees, and received an average PPP loan of $144,186, 88% lower than this company's loan of $1.21M.
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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. 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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