PPP Loan Data — Taft Electric Company, Ventura, CA
Taft Electric Company
Entity: Employee Stock Ownership Plan (esop)
Location: Ventura, CATweet This • Search All PPP Data
Taft Electric Company is an employee stock ownership plan (esop) located at 1694 Eastman Ave in Ventura, California that received a Coronavirus-related PPP loan from the SBA of $8,762,899.00 in April, 2020.
$ PPP Loan Information
Lender:MONTECITO BANK & TRUST
Taft Electric Company in Ventura, CA received a Paycheck Protection Loan of $8.76M through MONTECITO BANK & TRUST, which was approved in April, 2020.
Based on standard PPP eligibility rules, Taft Electric Company's total 2019 payroll expenses were approximately $42.06M in order to qualify for the PPP loan amount received.
Based on their reported 470 jobs retained, this equals an estimated average yearly compensation of $89,493 per employee1.
Business Information - Taft Electric Company in Ventura, CA
1694 Eastman Ave
Ventura, CA 93003
Electrical Contractors and Other Wiring Installation Contractors (NAICS code 238210)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: CA-26
Similar Companies near Ventura
In the Ventura area, 26 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 25 employees (compared to this company's 470) and received an average PPP loan of $415,201 (compared to this company's $8.76M).
Similar Nearby Businesses Who Received PPP Funding:
Scott & Sons Electric
Itech Smart Home Inc.
Straight Line Electric
Taylor Neil Incorporated
Venco Realtors, Inc.
Robert Alan Volkman
Anacapa Electric, Inc.
Industry PPP Comparison Statistics
Nationwide, 44,489 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a total of $8,060,101,877.00 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 12 employees, 97% lower than Taft Electric Company's reported 470 employees, and received an average PPP loan of $181,171, 98% lower than this company's loan of $8.76M.
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