PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Utili-Serve, LLC, Conover, NC

SBA PPP loan data, payroll data, and salaries for Utili-Serve, LLC
NC

Utili-Serve, LLC

Entity: Subchapter S Corporation

Industry: Electrical Contractors and Other Wiring Installation Contractors

Location: Conover, NC

Search All PPP Data

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:

$2.85M

Jobs Retained:

182

Loan Approved:

2020-04-13

Lender:

PNC BANK, NATIONAL ASSOCIATION

Utili-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.

Because the loan received by Utili-Serve, LLC 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 - Utili-Serve, LLC in Conover, NC

Utili-Serve, LLC
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-10

Similar 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).

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.

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.


Have FederalPay.org's open data tools been valuable? Consider donating!

** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/utili-serve-llc-conover-nc