PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Southwest Louisiana Electric Membership Corporation, Lafayette, LA

SBA PPP loan data, payroll data, and salaries for Southwest Louisiana Electric Membership Corporation
LA

Southwest Louisiana Electric Membership Corporation

Entity: Cooperative

Industry: Electric Power Distribution

Location: Lafayette, LA

Search All PPP Data

Southwest Louisiana Electric Membership Corporation is a cooperative located at 2727 Se Evangeline Trwy in Lafayette, Louisiana that received a Coronavirus-related PPP loan from the SBA of $5,302,335.00 in May, 2020.

$ PPP Loan Information

Loan Size:

$5.3M

Jobs Retained:

266

Loan Approved:

2020-05-18

Lender:

COBANK ACB

Southwest Louisiana Electric Membership Corporation received a Paycheck Protection Loan of $5.3M through COBANK ACB, which was approved in May, 2020.

Based on standard PPP eligibility rules, Southwest Louisiana Electric Membership Corporation's total 2019 payroll expenses were approximately $25.45M in order to qualify for the PPP loan amount received.

Based on their reported 266 jobs retained, this equals an estimated average yearly compensation of $95,681 per employee1.

Because the loan received by Southwest Louisiana Electric Membership Corporation 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 Louisiana Electric Membership Corporation in Lafayette, LA

Southwest Louisiana Electric Membership Corporation
2727 Se Evangeline Trwy
Lafayette, LA 70508

Business Industry

Electric Power Distribution (NAICS code 221122)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: LA-03

Industry PPP Comparison Statistics

Nationwide, 823 businesses in the "Electric Power Distribution" industry received a total of $508,939,757.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 31 employees, 88% lower than Southwest Louisiana Electric Membership Corporation's reported 266 employees, and received an average PPP loan of $618,396, 88% lower than this company's loan of $5.3M.

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.

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.


Have FederalPay.org's open data tools been valuable? Consider donating!

** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/southwest-louisiana-electric-membership-corporation-lafayette-la