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PPP Loan Data — Patriot Electric Corp.,
College Point, NY
Patriot Electric Corp.
Entity: Subchapter S Corporation
Industry: Electrical Contractors and Other Wiring Installation Contractors
Location: College Point, NY
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Patriot Electric Corp. is a subchapter s corporation located at 15-17 126th Street in College Point, New York that received a Coronavirus-related PPP loan from the SBA of $5,005,080.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 325 people during the applicable loan loan period.
$ PPP Loan Information
Loan Size:
Jobs Retained:
325Loan Approved:
2020-04-28Lender:
JPMORGAN CHASE BANK, NATIONAL ASSOCIATIONPatriot Electric Corp. received a Paycheck Protection Loan of $5.01M through JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Patriot Electric Corp.'s total 2019 payroll expenses were approximately $24.02M in order to qualify for the PPP loan amount received.
Based on their reported 325 jobs retained, this equals an estimated average yearly compensation of $73,921 per employee1.
Business Information - Patriot Electric Corp. in College Point, NY
15-17 126th Street
College Point, NY 11356
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: NY-14Similar Companies near College Point
In the College Point area, 17 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 26 employees (compared to this company's 325) and received an average PPP loan of $668,955 (compared to this company's $5.01M).
Similar Nearby Businesses Who Received PPP Funding:
Cipriani Electric Inc
Whitestone, NY
Stellman Electrical Corp
Whitestone, NY
Delta Star Maintenance
Whitestone, NY
Levinson & Santoro Electric Corp.
College Point, NY
Labco Electric Contracting Corp
College Point, NY
ATJ Electrical Co. Inc
College Point, NY
Tempest Electrical Contracting Inc.
Whitestone, NY
Queue Electrical Contractors, Inc.
College Point, NY
Independent Temperature Control Services
College Point, NY
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 Patriot Electric Corp.'s reported 325 employees, and received an average PPP loan of $181,171, 96% lower than this company's loan of $5.01M.
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.
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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