PPP Loan Data — Wayne's Electric Inc, Fort Lupton Colorado, CO
Wayne's Electric Inc
Entity: Subchapter S Corporation
Location: Fort Lupton Colorado, COTweet This • Search All PPP Data
Wayne's Electric Inc is a subchapter s corporation located at 2101 Wcr 27 in Fort Lupton Colorado, Colorado that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in January, 2021.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of Colorado
Wayne's Electric Inc in Fort Lupton Colorado, CO received a Paycheck Protection Loan of $2M through Bank of Colorado, which was approved 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, Wayne's Electric Inc's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 139 jobs retained, this equals an estimated average yearly compensation of $69,065 per employee1
Reported PPP Proceed Usage:
On the PPP application, Wayne's Electric Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,000,000
Business Information - Wayne's Electric Inc in Fort Lupton Colorado, CO
2101 Wcr 27
Fort Lupton Colorado, CO 80602
Electrical Contractors and Other Wiring Installation Contractors
NAICS code 238210
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Fort Lupton Colorado
In the Fort Lupton Colorado area, 24 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 12 employees (compared to this company's 139) and received an average PPP loan of $133,514 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Juniper Mountain Electric LLC
Primary Electrical Services Limited
Hardcore Electric Inc
Infinite Electric LLC
Structured Systems LLC
Keys Electric Inc
Integrated Controls & Electric
ACE Installation & Design LLC
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, 92% lower than Wayne's Electric Inc's reported 139 employees, and received an average PPP loan of $142,494, 93% lower than this company's loan of $2M.
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