PPP Loan Data — Thompson Electrical Services LLC, Kent, WA
Thompson Electrical Services LLC
Entity: Limited Liability Company (LLC)
Location: Kent, WATweet This • Search All PPP Data
Thompson Electrical Services LLC is a limited liability company (LLC) located at 19245 121st Pl Se in Kent, Washington that received a Coronavirus-related PPP loan from the SBA of $45,856.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Wells Fargo Bank, National Association
Thompson Electrical Services LLC in Kent, WA received a Paycheck Protection Loan of $45,856 through Wells Fargo Bank, National Association, which was approved in May, 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, Thompson Electrical Services LLC's 2019 payroll expenses are estimated to be at least $220,109.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $55,027 per employee1
Reported PPP Proceed Usage:
On the PPP application, Thompson Electrical Services LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $45,856
Business Information - Thompson Electrical Services LLC in Kent, WA
19245 121st Pl Se
Kent, WA 98031
Electrical Contractors and Other Wiring Installation Contractors
NAICS code 238210
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Kent
In the Kent area, 23 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 32 employees (compared to this company's 4) and received an average PPP loan of $586,713 (compared to this company's $45,856).
Similar Nearby Businesses Who Received PPP Funding:
Sundancer Electric Inc
R & R Electrical Services LLC
ALT Electric LLC
Sound Finance Corporation
Darrah Electric LLC
Broadway Electric Graphic Services, Inc
Holmes Electric Company
Phase NW LLC
Industry PPP Comparison Statistics
Nationwide, 82,626 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a total of $11.77B 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 11 employees, 175% higher than Thompson Electrical Services LLC's reported 4 employees, and received an average PPP loan of $142,494, 211% higher than this company's loan of $45,856.
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