PPP Loan Data — Strategic Mechanical Inc, Fresno, CA
Strategic Mechanical Inc
Entity: Subchapter S Corporation
Location: Fresno, CATweet This • Search All PPP Data
Strategic Mechanical Inc is a subchapter s corporation located at 4661 E Commerce Ave in Fresno, California that received a Coronavirus-related PPP loan from the SBA of $2,763,900.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 123 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Central Valley Community Bank
Strategic Mechanical Inc in Fresno, CA received a Paycheck Protection Loan of $2.76M through Central Valley Community 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 133. 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, Strategic Mechanical Inc's 2019 payroll expenses are estimated to be at least $13.27M (not accounting for salary amounts > $100k).
Because the 123 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, Strategic Mechanical Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,763,900
Business Information - Strategic Mechanical Inc in Fresno, CA
4661 E Commerce Ave
Fresno, CA 93725
Plumbing, Heating, and Air-Conditioning Contractors
NAICS code 238220
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Fresno
In the Fresno area, 9 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a PPP loan. These local businesses reported an average of 29 employees (compared to this company's 123) and received an average PPP loan of $441,204 (compared to this company's $2.76M).
Similar Nearby Businesses Who Received PPP Funding:
PR Plumbing, Heating & Air Conditioning, Inc
Consolidated Services Air Conditioning Incorporated
Fynaut Heating & Air Inc
D Pool Plumbing Co
D Pool Plumbing Co
Industry PPP Comparison Statistics
Nationwide, 92,266 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a total of $12.59B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 11 employees, 91% lower than Strategic Mechanical Inc's reported 123 employees, and received an average PPP loan of $136,477, 95% lower than this company's loan of $2.76M.
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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