PPP Loan Data — Stuart Mechanical Service, Inc, Buford, GA
Stuart Mechanical Service, Inc
Entity: Subchapter S Corporation
Location: Buford, GATweet This • Search All PPP Data
Stuart Mechanical Service, Inc is a subchapter s corporation located at 5267 Palmero Court in Buford, Georgia that received a Coronavirus-related PPP loan from the SBA of $1,587,100.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:United Community Bank
Stuart Mechanical Service, Inc in Buford, GA received a Paycheck Protection Loan of $1.59M through United Community Bank, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in December, 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, Stuart Mechanical Service, Inc's 2019 payroll expenses are estimated to be at least $7.62M.
Based on their reported 190 jobs retained, this equals an estimated average yearly compensation of $40,095 per employee1
Reported PPP Proceed Usage:
On the PPP application, Stuart Mechanical Service, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,587,100
Business Information - Stuart Mechanical Service, Inc in Buford, GA
5267 Palmero Court
Buford, GA 30518
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 Buford
In the Buford area, 73 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 190) and received an average PPP loan of $84,236 (compared to this company's $1.59M).
Similar Nearby Businesses Who Received PPP Funding:
Greenlee Plumbing Inc
J. Scott Service Company, Inc
Arctic Circle Air Inc
Robinson Plumbing Co., Inc
Suwanee Creek Enterprises Inc
Sugar Hill, GA
AAT Group Inc
Allpro Climate Control LLC
Andes Plumbing LLC
Top Notch Heating And Air Service Repair LLC
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, 95% lower than Stuart Mechanical Service, Inc's reported 190 employees, and received an average PPP loan of $123,520, 92% lower than this company's loan of $1.59M.
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