PPP Loan Data — Settle Muter Electric Limited, Columbus, OH
Settle Muter Electric Limited
Entity: Limited Liability Company (LLC)
Location: Columbus, OHTweet This • Search All PPP Data
Settle Muter Electric Limited is a limited liability company (LLC) located at 711 Claycraft Rd in Columbus, Ohio that received a Coronavirus-related PPP loan from the SBA of $2,381,500.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 176 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:PNC Bank, National Association
Settle Muter Electric Limited in Columbus, OH received a Paycheck Protection Loan of $2.38M through PNC Bank, National Association, 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, Settle Muter Electric Limited's 2019 payroll expenses are estimated to be at least $11.43M.
Based on their reported 176 jobs retained, this equals an estimated average yearly compensation of $64,950 per employee1
Reported PPP Proceed Usage:
On the PPP application, Settle Muter Electric Limited reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,381,500
Business Information - Settle Muter Electric Limited in Columbus, OH
711 Claycraft Rd
Columbus, OH 43230
Electrical Contractors and Other Wiring Installation Contractors
NAICS code 238210
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Columbus
In the Columbus area, 23 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 47 employees (compared to this company's 176) and received an average PPP loan of $568,363 (compared to this company's $2.38M).
Similar Nearby Businesses Who Received PPP Funding:
Reli Electric LLC
KOR Services LLC
Harris & Stewart Electrical Inc
Rteam Management, Inc
Synergy Electrical, LLC
X. F. Construction Services, Inc
Romanoff Heating And Cooling Charlotte LLC
Industry PPP Comparison Statistics
Nationwide, 82,626 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a total of $11.77B 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, 94% lower than Settle Muter Electric Limited's reported 176 employees, and received an average PPP loan of $142,494, 94% lower than this company's loan of $2.38M.
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