PPP Loan Data — Stetner Electric Inc, Quincy, WA
Stetner Electric Inc
Entity: Subchapter S Corporation
Location: Quincy, WATweet This • Search All PPP Data
Stetner Electric Inc is a subchapter s corporation located at Po Box 1750 in Quincy, Washington that received a Coronavirus-related PPP loan from the SBA of $2,052,559.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Washington Trust Bank
Stetner Electric Inc in Quincy, WA received a Paycheck Protection Loan of $2.05M through Washington Trust Bank, which was approved in April, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 99. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, Stetner Electric Inc's 2019 payroll expenses are estimated to be at least $9.85M (not accounting for salary amounts > $100k).
Because the 74 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Stetner Electric Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,052,559
Business Information - Stetner Electric Inc in Quincy, WA
Po Box 1750
Quincy, WA 98848
Electrical Contractors and Other Wiring Installation Contractors
NAICS code 238210
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Quincy
In the Quincy area, 5 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 19 employees (compared to this company's 74) and received an average PPP loan of $464,025 (compared to this company's $2.05M).
Similar Nearby Businesses Who Received PPP Funding:
Frontier Electric Inc
Tobin Electric, Inc
Comex Solutions, LLC
Industry PPP Comparison Statistics
Nationwide, 82,626 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a total of $11.77B 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 11 employees, 85% lower than Stetner Electric Inc's reported 74 employees, and received an average PPP loan of $142,494, 93% lower than this company's loan of $2.05M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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