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PPP Loan Data — Southwest Louisiana Electric Membership Corporation,
Lafayette, LA
Southwest Louisiana Electric Membership Corporation
Entity: Cooperative
Industry: Electric Power Distribution
Location: Lafayette, LA
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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:
Jobs Retained:
266Loan Approved:
2020-05-18Lender:
COBANK ACBSouthwest 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.
Business Information - Southwest Louisiana Electric Membership Corporation in Lafayette, LA
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-03Industry 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.
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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