PPP Loan Data — Vasko Electric, Inc, Sacramento, CA
Vasko Electric, Inc
Location: Sacramento, CATweet This • Search All PPP Data
Vasko Electric, Inc is a corporation located at 4300 Astoria St in Sacramento, California that received a Coronavirus-related PPP loan from the SBA of $1,985,308.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 122 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Merchants Bank of Commerce
Vasko Electric, Inc in Sacramento, CA received a Paycheck Protection Loan of $1.99M through Merchants Bank of Commerce, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in January, 2021.
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, Vasko Electric, Inc's 2019 payroll expenses are estimated to be at least $9.53M.
Based on their reported 122 jobs retained, this equals an estimated average yearly compensation of $78,110 per employee1
Reported PPP Proceed Usage:
On the PPP application, Vasko Electric, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,985,308
Business Information - Vasko Electric, Inc in Sacramento, CA
4300 Astoria St
Sacramento, CA 95838
Electrical Contractors and Other Wiring Installation Contractors
NAICS code 238210
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Sacramento
In the Sacramento area, 15 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 36 employees (compared to this company's 122) and received an average PPP loan of $497,749 (compared to this company's $1.99M).
Similar Nearby Businesses Who Received PPP Funding:
Stein Electric, Inc
Liborio Aviles DBA
Pacific Power Electrical Service LLC
Gusar Electric Inc
Ireland Electric, Inc
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, 91% lower than Vasko Electric, Inc's reported 122 employees, and received an average PPP loan of $142,494, 93% lower than this company's loan of $1.99M.
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