PPP Loan Data — SR Mechanical, Inc, St Louis Park, MN
SR Mechanical, Inc
Entity: Subchapter S Corporation
Location: St Louis Park, MNTweet This • Search All PPP Data
SR Mechanical, Inc is a subchapter s corporation located at 6757 Oxford Street in St Louis Park, Minnesota that received a Coronavirus-related PPP loan from the SBA of $2,358,600.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bremer Bank, National Association
SR Mechanical, Inc in St Louis Park, MN received a Paycheck Protection Loan of $2.36M through Bremer Bank, National Association, which was approved in May, 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, SR Mechanical, Inc's 2019 payroll expenses are estimated to be at least $11.32M.
Based on their reported 158 jobs retained, this equals an estimated average yearly compensation of $71,654 per employee1
Reported PPP Proceed Usage:
On the PPP application, SR Mechanical, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,358,600
Business Information - SR Mechanical, Inc in St Louis Park, MN
6757 Oxford Street
St Louis Park, MN 55426
Plumbing, Heating, and Air-Conditioning Contractors
NAICS code 238220
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near St Louis Park
In the St Louis Park area, 25 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a PPP loan. These local businesses reported an average of 28 employees (compared to this company's 158) and received an average PPP loan of $428,056 (compared to this company's $2.36M).
Similar Nearby Businesses Who Received PPP Funding:
Midwest Maintenance & Mechanical, Inc
Custom Refrigeration Inc
Golden Valley, MN
ASK Nigel, LLC
Skyline Heating And Air LLC
4Front Energy Solutions, Inc
St Louis Park, MN
Highview Plumbing, Inc
General Sheet Metal Company LLC
Huber Plumbing Co LLC
Steinkraus Plumbing Inc
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, 94% lower than SR Mechanical, Inc's reported 158 employees, and received an average PPP loan of $123,520, 95% lower than this company's loan of $2.36M.
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