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PPP Loan Data — The Garick Group, Inc., El Paso, TX

SBA PPP loan data, payroll data, and salaries for The Garick Group, Inc.
TX

The Garick Group, Inc.

Entity: Corporation

Industry: Electrical Contractors and Other Wiring Installation Contractors

Location: El Paso, TX

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The Garick Group, Inc. is a corporation located at 7181 Copper Queen Dr in El Paso, Texas that received a Coronavirus-related PPP loan from the SBA of $3,675,500.00 in April, 2020.

The company has reported itself as a Hispanic male owned business, and employed at least 200 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$3.68M

Jobs Retained:

200

Loan Approved:

2020-04-04

Lender:

WESTSTAR BANK

The Garick Group, Inc. received a Paycheck Protection Loan of $3.68M through WESTSTAR BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, The Garick Group, Inc.'s total 2019 payroll expenses were approximately $17.64M in order to qualify for the PPP loan amount received.

Based on their reported 200 jobs retained, this equals an estimated average yearly compensation of $88,212 per employee1.

Because the loan received by The Garick Group, Inc. 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 Garick Group, Inc. in El Paso, TX

The Garick Group, Inc.
7181 Copper Queen Dr
El Paso, TX 79915

Business Industry

Electrical Contractors and Other Wiring Installation Contractors (NAICS code 238210)

Business Owner Demographics

Race / Ethnicity: HISPANIC

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: TX-16

Similar Companies near El Paso

In the El Paso area, 11 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 48 employees (compared to this company's 200) and received an average PPP loan of $562,298 (compared to this company's $3.68M).

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, 94% lower than The Garick Group, Inc.'s reported 200 employees, and received an average PPP loan of $181,171, 95% lower than this company's loan of $3.68M.

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.

Search FederalPay's Full PPP Loan Database

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/the-garick-group-inc-el-paso-tx