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PPP Loan Data — Vision Electric, Bondurant, IA

SBA PPP loan data, payroll data, and salaries for Vision Electric
IA

Vision Electric

Entity: Limited Liability Company (LLC)

Industry: Electrical Contractors and Other Wiring Installation Contractors

Location: Bondurant, IA

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Vision Electric is a limited liability company (LLC) located at 3300 Henry St Sw in Bondurant, Iowa that received a Coronavirus-related PPP loan from the SBA of $3,408,549.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least 250 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$3.41M

Jobs Retained:

250

Loan Approved:

2020-04-05

Lender:

LINCOLN SAVINGS BANK

Vision Electric in Bondurant, IA received a Paycheck Protection Loan of $3.41M through LINCOLN SAVINGS BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Vision Electric's total 2019 payroll expenses were approximately $16.36M in order to qualify for the PPP loan amount received.

Based on their reported 250 jobs retained, this equals an estimated average yearly compensation of $65,444 per employee1.

Because the loan received by Vision Electric 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 - Vision Electric in Bondurant, IA

Vision Electric
3300 Henry St Sw
Bondurant, IA 50035

Business Industry

Electrical Contractors and Other Wiring Installation Contractors (NAICS code 238210)

Business Owner Demographics

Race / Ethnicity: WHITE

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: IA-03

Similar Companies near Bondurant

In the Bondurant area, 4 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 66 employees (compared to this company's 250) and received an average PPP loan of $925,575 (compared to this company's $3.41M).

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, 95% lower than Vision Electric's reported 250 employees, and received an average PPP loan of $181,171, 95% lower than this company's loan of $3.41M.

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.

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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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/vision-electric-bondurant-ia