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PPP Loan Data — Southwest Electrical Contracting Services LTD, Converse, TX

SBA PPP loan data, payroll data, and salaries for Southwest Electrical Contracting Services LTD
TX

Southwest Electrical Contracting Services LTD

Entity: Corporation

Industry: Electrical Contractors and Other Wiring Installation Contractors

Location: Converse, TX

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Southwest Electrical Contracting Services LTD is a corporation located at 9435 E Loop 1604 in Converse, Texas that received a Coronavirus-related PPP loan from the SBA of $6,175,300.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 470 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$6.18M

Jobs Retained:

470

Loan Approved:

2020-04-09

Lender:

FROST BANK

Southwest Electrical Contracting Services LTD in Converse, TX received a Paycheck Protection Loan of $6.18M through FROST BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Southwest Electrical Contracting Services LTD's total 2019 payroll expenses were approximately $29.64M in order to qualify for the PPP loan amount received.

Based on their reported 470 jobs retained, this equals an estimated average yearly compensation of $63,067 per employee1.

Because the loan received by Southwest Electrical Contracting Services LTD is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Southwest Electrical Contracting Services LTD in Converse, TX

Southwest Electrical Contracting Services LTD
9435 E Loop 1604
Converse, TX 78109

Business Industry

Electrical Contractors and Other Wiring Installation Contractors (NAICS code 238210)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: Unreported

Congressional District: TX-28

Similar Companies near Converse

In the Converse area, 2 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 241 employees (compared to this company's 470) and received an average PPP loan of $3,229,000 (compared to this company's $6.18M).

Similar Nearby Businesses Who Received PPP Funding:

Advanced Solar And Electric, LLC
Cibolo, TX

$282,700 PPP Loan

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 Southwest Electrical Contracting Services LTD's reported 470 employees, and received an average PPP loan of $181,171, 97% lower than this company's loan of $6.18M.

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, and is published unmodified, as provided by the SBA.

Search FederalPay's Full PPP Loan Database

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/southwest-electrical-contracting-services-ltd-converse-tx