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PPP Loan Data — Paul Fattizzi Electric Inc,
White Plains, NY
Paul Fattizzi Electric Inc
Entity: Corporation
Industry: Electrical Contractors and Other Wiring Installation Contractors
Location: White Plains, NY
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Paul Fattizzi Electric Inc is a corporation located at 8 Fulton St in White Plains, New York that received a Coronavirus-related PPP loan from the SBA of $70,762.00 in March, 2021.
$
PPP Loan Information
Loan #7518928601
Loan Size:
Jobs Retained:
16Loan Approved:
2021-03-23Loan Status:
Ongoing LoanLender:
JPMorgan Chase Bank, National AssociationPaul Fattizzi Electric Inc in White Plains, NY received a Paycheck Protection Loan of $70,762 through JPMorgan Chase Bank, National Association, which was approved in March, 2021.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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, Paul Fattizzi Electric Inc's 2019 payroll expenses are estimated to be at least $339,658.
Based on their reported 16 jobs retained, this equals an estimated average yearly compensation of $21,229 per employee1
Reported PPP Proceed Usage:
On the PPP application, Paul Fattizzi Electric Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $70,762
Business Information - Paul Fattizzi Electric Inc in White Plains, NY
8 Fulton St
White Plains, NY 10606
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: Y
Rural / Urban: Urban
Similar Companies near White Plains
In the White Plains area, 11 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 19 employees (compared to this company's 16) and received an average PPP loan of $433,332 (compared to this company's $70,762).
Similar Nearby Businesses Who Received PPP Funding:
JSI Service Corp
White Plains, NY
Solar Electric Systems, Inc
White Plains, NY
MJ Rooney Electrical Contracting, Lt
White Plains, NY
Matelli Electric Inc
White Plains, NY
Anthony Mitchell
White Plains, NY
Frank Lozupone Jr
White Plains, NY
Capone Electrical Contractors Corp
White Plains, NY
J & M Security Systems Inc
White Plains, NY
Industry PPP Comparison Statistics
Nationwide, 82,857 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a total of $11.78B 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, 31% lower than Paul Fattizzi Electric Inc's reported 16 employees, and received an average PPP loan of $142,175, 101% higher than this company's loan of $70,762.
Paul Fattizzi Electric, Inc
Entity: Corporation
Industry: Electrical Contractors and Other Wiring Installation Contractors
Location: White Plains, NY
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•
Search All PPP Data
Paul Fattizzi Electric, Inc is a corporation located at 8 Fulton St in White Plains, New York that received a Coronavirus-related PPP loan from the SBA of $70,437.00 in May, 2020.
$
PPP Loan Information
Loan #2170637705
Loan Size:
Jobs Retained:
6Loan Approved:
2020-05-01Loan Status:
Paid in Full or ForgivenLender:
JPMorgan Chase Bank, National AssociationPaul Fattizzi Electric, Inc in White Plains, NY received a Paycheck Protection Loan of $70,437 through JPMorgan Chase Bank, National Association, which was approved in May, 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 May, 2021.
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, Paul Fattizzi Electric, Inc's 2019 payroll expenses are estimated to be at least $338,098.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $56,350 per employee1
Reported PPP Proceed Usage:
On the PPP application, Paul Fattizzi Electric, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $64,989
- Utilities: $448
- Rent: $5,000
Business Information - Paul Fattizzi Electric, Inc in White Plains, NY
8 Fulton St
White Plains, NY 10606
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: Y
Rural / Urban: Urban
Similar Companies near White Plains
In the White Plains area, 11 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 19 employees (compared to this company's 6) and received an average PPP loan of $433,332 (compared to this company's $70,437).
Similar Nearby Businesses Who Received PPP Funding:
JSI Service Corp
White Plains, NY
Solar Electric Systems, Inc
White Plains, NY
MJ Rooney Electrical Contracting, Lt
White Plains, NY
Matelli Electric Inc
White Plains, NY
Anthony Mitchell
White Plains, NY
Frank Lozupone Jr
White Plains, NY
Capone Electrical Contractors Corp
White Plains, NY
J & M Security Systems Inc
White Plains, NY
Industry PPP Comparison Statistics
Nationwide, 82,857 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a total of $11.78B 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% higher than Paul Fattizzi Electric, Inc's reported 6 employees, and received an average PPP loan of $142,175, 102% higher than this company's loan of $70,437.
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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