PPP Loan Data — Spectrum Mechanical And Service Contract, Tempe, AZ
Spectrum Mechanical And Service Contract
Location: Tempe, AZTweet This • Search All PPP Data
Spectrum Mechanical And Service Contract is a corporation located at 1525 W 10th Pl in Tempe, Arizona that received a Coronavirus-related PPP loan from the SBA of $1,653,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Mid Penn Bank
Spectrum Mechanical And Service Contract in Tempe, AZ received a Paycheck Protection Loan of $1.65M through Mid Penn Bank, 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, Spectrum Mechanical And Service Contract's 2019 payroll expenses are estimated to be at least $7.93M.
Based on their reported 137 jobs retained, this equals an estimated average yearly compensation of $57,915 per employee1
Reported PPP Proceed Usage:
On the PPP application, Spectrum Mechanical And Service Contract reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,653,000
Business Information - Spectrum Mechanical And Service Contract in Tempe, AZ
1525 W 10th Pl
Tempe, AZ 85281
Plumbing, Heating, and Air-Conditioning Contractors
NAICS code 238220
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Tempe
In the Tempe area, 57 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a PPP loan. These local businesses reported an average of 21 employees (compared to this company's 137) and received an average PPP loan of $254,130 (compared to this company's $1.65M).
Similar Nearby Businesses Who Received PPP Funding:
Accurate Air Conditioning Inc
AZS Best Heating And Cooling LLC
Armor Fire Protection Inc
Aliance Plumbing Service & Repair, Inc
Sunny Energy LLC
Wolfgang's Cooling And Heating Corporati On
SMW Refrigeration & Heating LLC
Service Pros Plumbing Heating And Coolin
Industry PPP Comparison Statistics
Nationwide, 105,811 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a total of $13.07B 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 10 employees, 93% lower than Spectrum Mechanical And Service Contract's reported 137 employees, and received an average PPP loan of $123,520, 93% lower than this company's loan of $1.65M.
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