PPP Loan Data — Veduccio Electric, Waltham, MA
Entity: Sole Proprietorship
Location: Waltham, MATweet This • Search All PPP Data
Veduccio Electric is a sole proprietorship located in Waltham, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $8,646.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least one person during the applicable loan loan period.
$ PPP Loan Information
Lender:WATERTOWN SAVINGS BANK
Veduccio Electric received a Paycheck Protection Loan of $8,646 through WATERTOWN SAVINGS BANK, which was approved in April, 2020.
Because Veduccio Electric is a Sole Proprietorship reporting a single employee, the PPP loan amount received may be based on the business's total income.
Based on PPP calculation rules, this business earned $41,501 in 2019.
Business Information - Veduccio Electric in Waltham, MA
[FULL ADDRESS REDACTED]
Electrical Contractors and Other Wiring Installation Contractors (NAICS code 238210)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: UnreportedCongressional District: MA-05
Similar Companies near Waltham
In the Waltham area, 13 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 13 employees (compared to this company's 1) and received an average PPP loan of $435,691 (compared to this company's $8,646).
Similar Nearby Businesses Who Received PPP Funding:
Difoggio Electric, Inc
Norel Service Co., Inc.
George Margios Electrical Inc
Bryan J Ferrera
Alberto Fusco Electrical Contractors
Gallagher Electrical LLC
Amps Electric, Inc.
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, 1100% higher than Veduccio Electric's reported 1 employees, and received an average PPP loan of $181,171, 1995% higher than this company's loan of $8,646.
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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
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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