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PPP Loan Data — The Electric Motor Repair Company, Rosedale, MD

SBA PPP loan data, payroll data, and salaries for The Electric Motor Repair Company
MD

The Electric Motor Repair Company

Entity: Corporation

Industry: Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance

Location: Rosedale, MD

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The Electric Motor Repair Company is a corporation located at 9100 Yellow Brick Rd Ste H in Rosedale, Maryland that received a Coronavirus-related PPP loan from the SBA of $2,923,100.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.92M

Jobs Retained:

186

Loan Approved:

2020-04-10

Lender:

TRUIST BANK D/B/A BRANCH BANKING & TRUST CO

The Electric Motor Repair Company received a Paycheck Protection Loan of $2.92M through TRUIST BANK D/B/A BRANCH BANKING & TRUST CO, which was approved in April, 2020.

Based on standard PPP eligibility rules, The Electric Motor Repair Company's total 2019 payroll expenses were approximately $14.03M in order to qualify for the PPP loan amount received.

Based on their reported 186 jobs retained, this equals an estimated average yearly compensation of $75,435 per employee1.

Because the loan received by The Electric Motor Repair Company is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - The Electric Motor Repair Company in Rosedale, MD

The Electric Motor Repair Company
9100 Yellow Brick Rd Ste H
Rosedale, MD 21237

Business Industry

Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance (NAICS code 811310)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MD-02

Similar Companies near Rosedale

In the Rosedale area, 2 businesses in the "Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance" industry received a PPP loan. These local businesses reported an average of 95 employees (compared to this company's 186) and received an average PPP loan of $1,479,149 (compared to this company's $2.92M).

Similar Nearby Businesses Who Received PPP Funding:

Chalks Industrial Equipment Sales Inc.
Rosedale, MD

$35,197 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 12,028 businesses in the "Commercial and Industrial Machinery and Equipment (except Automotive and Electronic) Repair and Maintenance" industry received a total of $1,542,124,009.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 10 employees, 95% lower than The Electric Motor Repair Company's reported 186 employees, and received an average PPP loan of $128,211, 96% lower than this company's loan of $2.92M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA.

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Footnotes & Information

1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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Source: www.federalpay.org/paycheck-protection-program/the-electric-motor-repair-company-rosedale-md