PPP Loan Data — Rescue Electric Corporation, Antioch, CA
Rescue Electric Corporation
Entity: Subchapter S Corporation
Location: Antioch, CATweet This • Search All PPP Data
Rescue Electric Corporation is a subchapter s corporation located at 2595 West 10th St in Antioch, California that received a Coronavirus-related PPP loan from the SBA of $6,116,300.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 380 people during the applicable loan loan period.
$ PPP Loan Information
Lender:ZIONS BANK, A DIVISION OF
Rescue Electric Corporation received a Paycheck Protection Loan of $6.12M through ZIONS BANK, A DIVISION OF, which was approved in April, 2020.
Based on standard PPP eligibility rules, Rescue Electric Corporation's total 2019 payroll expenses were approximately $29.36M in order to qualify for the PPP loan amount received.
Based on their reported 380 jobs retained, this equals an estimated average yearly compensation of $77,259 per employee1.
Business Information - Rescue Electric Corporation in Antioch, CA
2595 West 10th St
Antioch, CA 94509
Electrical Contractors and Other Wiring Installation Contractors (NAICS code 238210)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: MALE OWNED
Veteran Status: UnreportedCongressional District: CA-09
Similar Companies near Antioch
In the Antioch area, 6 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 80 employees (compared to this company's 380) and received an average PPP loan of $1,230,166 (compared to this company's $6.12M).
Similar Nearby Businesses Who Received PPP Funding:
Tracero Electric Inc
Rock And Sons Inc
Black Diamond Electric, Inc.
American Alarm Co., Inc.
Industrial Commercial & Remediation Electrical, Inc
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, 97% lower than Rescue Electric Corporation's reported 380 employees, and received an average PPP loan of $181,171, 97% lower than this company's loan of $6.12M.
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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