PPP Loan Data — The Smith Companies, LLC, Richmond, VA
The Smith Companies, LLC
Entity: Sole Proprietorship
Industry: Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment Merchant Wholesalers
Location: Richmond, VATweet This • Search All PPP Data
The Smith Companies, LLC is a sole proprietorship located in Richmond, Virginia that received a Coronavirus-related PPP loan from the SBA of $24,900.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
The Smith Companies, LLC in Richmond, VA received a Paycheck Protection Loan of $24,900 through Chesapeake 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 1. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
Reported PPP Proceed Usage:
On the PPP application, The Smith Companies, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,900
Business Information - The Smith Companies, LLC in Richmond, VA
* Full address is redacted to protect the privacy of individuals.
Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment Merchant Wholesalers
NAICS code 423610
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Richmond
In the Richmond area, 10 businesses in the "Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 15 employees (compared to this company's 1) and received an average PPP loan of $184,201 (compared to this company's $24,900).
Similar Nearby Businesses Who Received PPP Funding:
Illumination Concepts & Sales
Race Technology USA LLC
Atlantic Electrical Suppply Corp
Morgan Chambliss LLC
Federated Lighting Of Virginia LLC
Strategic Telecom Supply Solutions LLC
Roys Electric Motor Service
Norfolk Wire - Richmond Inc
Industry PPP Comparison Statistics
Nationwide, 7,686 businesses in the "Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment Merchant Wholesalers" industry received a total of $1.31B 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 14 employees, 1300% higher than The Smith Companies, LLC's reported 1 employees, and received an average PPP loan of $170,366, 584% higher than this company's loan of $24,900.
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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