PPP Loan Data — Point Eight Power, Inc, Gretna, LA
Point Eight Power, Inc
Location: Gretna, LATweet This • Search All PPP Data
Point Eight Power, Inc is a corporation located at 2550 Belle Chasse Hwy in Gretna, Louisiana that received a Coronavirus-related PPP loan from the SBA of $1,739,203.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Hancock Whitney Bank
Point Eight Power, Inc in Gretna, LA received a Paycheck Protection Loan of $1.74M through Hancock Whitney 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, Point Eight Power, Inc's 2019 payroll expenses are estimated to be at least $8.35M.
Based on their reported 113 jobs retained, this equals an estimated average yearly compensation of $73,878 per employee1
Reported PPP Proceed Usage:
On the PPP application, Point Eight Power, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,739,203
Business Information - Point Eight Power, Inc in Gretna, LA
2550 Belle Chasse Hwy
Gretna, LA 70053
Switchgear and Switchboard Apparatus Manufacturing
NAICS code 335313
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 286 businesses in the "Switchgear and Switchboard Apparatus Manufacturing" industry received a total of $115.31M 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 33 employees, 71% lower than Point Eight Power, Inc's reported 113 employees, and received an average PPP loan of $403,168, 77% lower than this company's loan of $1.74M.
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Footnotes & Information
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