PPP Loan Data — Wind Turbine & Energy Cables Corp, Hasbrouck Heights, NJ
Wind Turbine & Energy Cables Corp
Location: Hasbrouck Heights, NJTweet This • Search All PPP Data
Wind Turbine & Energy Cables Corp is a corporation located at 777 Terrace Ave Ste 101 in Hasbrouck Heights, New Jersey that received a Coronavirus-related PPP loan from the SBA of $1,529,797.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 108 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Valley National Bank
Wind Turbine & Energy Cables Corp in Hasbrouck Heights, NJ received a Paycheck Protection Loan of $1.53M through Valley National Bank, 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 June, 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, Wind Turbine & Energy Cables Corp's 2019 payroll expenses are estimated to be at least $7.34M.
Based on their reported 108 jobs retained, this equals an estimated average yearly compensation of $67,991 per employee1
Reported PPP Proceed Usage:
On the PPP application, Wind Turbine & Energy Cables Corp reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,529,797
Business Information - Wind Turbine & Energy Cables Corp in Hasbrouck Heights, NJ
777 Terrace Ave Ste 101
Hasbrouck Heights, NJ 7604
Commercial and Institutional Building Construction
NAICS code 236220
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Hasbrouck Heights
In the Hasbrouck Heights area, 14 businesses in the "Commercial and Institutional Building Construction" industry received a PPP loan. These local businesses reported an average of 31 employees (compared to this company's 108) and received an average PPP loan of $352,401 (compared to this company's $1.53M).
Similar Nearby Businesses Who Received PPP Funding:
Trinity Evangelical Lutheran Church
Episcopal Church Of St. John The Divine
Hasbrouck Heights, NJ
St Joseph Church
Benchmark Construction Corp
Vanas Construction Co Inc
Victor Zucchi & Son
Gulf Cable, LLC
Hasbrouck Heights, NJ
Elvis And Son Contracting LLC
Industry PPP Comparison Statistics
Nationwide, 78,873 businesses in the "Commercial and Institutional Building Construction" industry received a total of $12.41B 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 12 employees, 89% lower than Wind Turbine & Energy Cables Corp's reported 108 employees, and received an average PPP loan of $157,325, 90% lower than this company's loan of $1.53M.
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Footnotes & Information
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