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PPP Loan Data — Utili-Serve, LLC,
Conover, NC
Utili-Serve, LLC
Entity: Subchapter S Corporation
Industry: Electrical Contractors and Other Wiring Installation Contractors
Location: Conover, NC
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Utili-Serve, LLC is a subchapter s corporation located at 1701 Cable Drive Ne in Conover, North Carolina that received a Coronavirus-related PPP loan from the SBA of $2,847,300.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
182Loan Approved:
2020-04-13Lender:
PNC BANK, NATIONAL ASSOCIATIONUtili-Serve, LLC in Conover, NC received a Paycheck Protection Loan of $2.85M through PNC BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Utili-Serve, LLC's total 2019 payroll expenses were approximately $13.67M in order to qualify for the PPP loan amount received.
Based on their reported 182 jobs retained, this equals an estimated average yearly compensation of $75,094 per employee1.
Business Information - Utili-Serve, LLC in Conover, NC
1701 Cable Drive Ne
Conover, NC 28613
Business Industry
Electrical Contractors and Other Wiring Installation Contractors (NAICS code 238210)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: NC-10Similar Companies near Conover
In the Conover area, 5 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 57 employees (compared to this company's 182) and received an average PPP loan of $760,063 (compared to this company's $2.85M).
Similar Nearby Businesses Who Received PPP Funding:
Connelly Springs Electric Inc.
Connellys Springs, NC
Smart Electric Company, Inc.
Connelly Springs, NC
B&L Telephone, LLC
Conover, NC
Progressive Electric Company, Inc.
Conover, NC
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, 93% lower than Utili-Serve, LLC's reported 182 employees, and received an average PPP loan of $181,171, 94% lower than this company's loan of $2.85M.
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, and is published unmodified, as provided by the SBA.
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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