PPP Loan Data — WM G Torchiana III Electrical Contractors LLC, Havertown, PA
WM G Torchiana III Electrical Contractors LLC
Entity: Limited Liability Company (LLC)
Location: Havertown, PATweet This • Search All PPP Data
WM G Torchiana III Electrical Contractors LLC is a limited liability company (LLC) located at 2120 Bellemead Ave in Havertown, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $25,200.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:PNC Bank, National Association
WM G Torchiana III Electrical Contractors LLC in Havertown, PA received a Paycheck Protection Loan of $25,200 through PNC Bank, National Association, which was approved in May, 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, WM G Torchiana III Electrical Contractors LLC's 2019 payroll expenses are estimated to be at least $120,960.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,480 per employee1
Reported PPP Proceed Usage:
On the PPP application, WM G Torchiana III Electrical Contractors LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,200
Business Information - WM G Torchiana III Electrical Contractors LLC in Havertown, PA
2120 Bellemead Ave
Havertown, PA 19083
Electrical Contractors and Other Wiring Installation Contractors
NAICS code 238210
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Havertown
In the Havertown area, 27 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 2) and received an average PPP loan of $203,384 (compared to this company's $25,200).
Similar Nearby Businesses Who Received PPP Funding:
Mckniff Electric LLC
Tighe Electrical LLC
MA Hamilton Electrical Contractor,LLC
Hughes Electric Inc
MC Electric Service LLC
Upper Darby, PA
Upper Darby, PA
Kartman Fire Protection Services, Inc
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, 450% higher than WM G Torchiana III Electrical Contractors LLC's reported 2 employees, and received an average PPP loan of $142,494, 465% higher than this company's loan of $25,200.
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