As part of the Paycheck Protection Program SCHMIDT ELECTRIC COMPANY, INC was approved for a loan.

The Paycheck Protection Program (PPP) incentivized business owners to continue paying their workers during the pandemic. In late December 2020, a new PPP bill authorized additional funding for the program.

SCHMIDT ELECTRIC COMPANY, INC


Loan Amount	$3,595,300
BusinessName	SCHMIDT ELECTRIC COMPANY, INC
Address	9701 FM 1625
City	AUSTIN
State	TX
Zip	78747
NAICSCode	238210
BusinessType	Corporation
RaceEthnicity	White
Gender	Male Owned
Veteran	Non-Veteran
NonProfit
JobsReported	250
DateApproved	04/04/2020
Lender	Security State Bank & Trust
CD	TX-35
BusinessName.clean	SCHMIDT ELECTRIC COMPANY

Data Sources

The data come from a release of over 5 million records by the SBA in November, 2020.

Who Could Apply?

Entities affected by Coronavirus (COVID-19) may have been eligible, including:

Small businesses that met SBA’s size standards
Sole proprietors, independent contractors, and self-employed persons

More info about the PPP is available from the Small Business Administration.

Other Organizations with PPP Loans

SCHMIDT EQUIPMENT
SCHMIDT FIRE PROTECTION CO
SCHMIDT PETERSON MOTORSPORTS
SCHMIDT STEEL
SCHMIDT TRANSPORTATION