G.r.p Mechanical Company, Inc
PPP Loan Data — G.r.p Mechanical Company, Inc, Bethalto, IL
Industry: Electrical Contractors and Other Wiring Installation Contractors
Location: Bethalto, IL
G.r.p Mechanical Company, Inc is a corporation located at Po Box 188 1 Mechanical Drive in Bethalto, Illinois that received a Coronavirus-related PPP loan from the SBA of $7,248,750.00 in April, 2020.
BMO Harris Bank National Association
G.r.p Mechanical Company, Inc in Bethalto, IL received a Paycheck Protection Loan of $7.25M through BMO Harris Bank National Association, which was approved in April, 2020.
For G.r.p Mechanical Company, Inc, the calculation used to estimate payroll costs is shown below:
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, G.r.p Mechanical Company, Inc's 2019 payroll expenses are estimated to be at least $34.79M.
On the PPP application, G.r.p Mechanical Company, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
Because the loan received by G.r.p Mechanical Company, Inc 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 - G.r.p Mechanical Company, Inc in Bethalto, IL
Po Box 188 1 Mechanical Drive
Electrical Contractors and Other Wiring Installation Contractors
Madison County, IL — SBA Office 0507 — Congressional District: IL-13
Nationwide, 81,495 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a total of $11.75B 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, 97% lower than G.r.p Mechanical Company, Inc's reported 379 employees, and received an average PPP loan of $144,173, 98% lower than this company's loan of $7.25M.
Source: www.federalpay.org/paycheck-protection-program/grp-mechanical-company-inc-bethalto-il