PPP Loan Data — Weather Master Heating & Air Conditioning, Inc, Knightdale, NC
Weather Master Heating & Air Conditioning, Inc
Location: Knightdale, NCTweet This • Search All PPP Data
Weather Master Heating & Air Conditioning, Inc is a corporation located at 305 Village Dr in Knightdale, North Carolina that received a Coronavirus-related PPP loan from the SBA of $1,531,300.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Truist Bank d/b/a Branch Banking & Trust Co
Weather Master Heating & Air Conditioning, Inc in Knightdale, NC received a Paycheck Protection Loan of $1.53M through Truist Bank d/b/a Branch Banking & Trust Co, which was approved in April, 2020.
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, Weather Master Heating & Air Conditioning, Inc's 2019 payroll expenses are estimated to be at least $7.35M.
Based on their reported 120 jobs retained, this equals an estimated average yearly compensation of $61,252 per employee1
Reported PPP Proceed Usage:
On the PPP application, Weather Master Heating & Air Conditioning, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,531,300
Business Information - Weather Master Heating & Air Conditioning, Inc in Knightdale, NC
305 Village Dr
Knightdale, NC 27545
Plumbing, Heating, and Air-Conditioning Contractors
NAICS code 238220
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Knightdale
In the Knightdale area, 18 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a PPP loan. These local businesses reported an average of 15 employees (compared to this company's 120) and received an average PPP loan of $168,927 (compared to this company's $1.53M).
Similar Nearby Businesses Who Received PPP Funding:
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Anthony W Stewart
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Air System Services Inc
Quality Comfort Services Inc
Golden Rule Plumbing Services LLC
Wagner Plumbing, Inc
Walston Plumbing Inc
Industry PPP Comparison Statistics
Nationwide, 105,811 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a total of $13.07B 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 10 employees, 92% lower than Weather Master Heating & Air Conditioning, Inc's reported 120 employees, and received an average PPP loan of $123,520, 92% lower than this company's loan of $1.53M.
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