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PPP Loan Data — Absolute Maintenence & Consulting Inc, Long Beach, CA

SBA PPP loan data, payroll data, and salaries for Absolute Maintenence & Consulting Inc
CA

Absolute Maintenence & Consulting Inc

Entity: Corporation

Industry: Remediation Services

Location: Long Beach, CA

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Absolute Maintenence & Consulting Inc is a corporation located at 481 W Willow St. #11 in Long Beach, California that received a Coronavirus-related PPP loan from the SBA of $50,312.00 in April, 2020.

$ PPP Loan Information
Loan #1761987201

Loan Size:

$50,312

Jobs Retained:

4

Loan Approved:

2020-04-15

Loan Status:

Paid in Full or Forgiven

Lender:

CDC Small Business Finance Corporation

Absolute Maintenence & Consulting Inc in Long Beach, CA received a Paycheck Protection Loan of $50,312 through CDC Small Business Finance Corporation, 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 February, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Absolute Maintenence & Consulting Inc's 2019 payroll expenses are estimated to be at least $241,498.

Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $60,375 per employee1

Reported PPP Proceed Usage:

On the PPP application, Absolute Maintenence & Consulting Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $50,312

Business Information - Absolute Maintenence & Consulting Inc in Long Beach, CA

Absolute Maintenence & Consulting Inc
481 W Willow St. #11
Long Beach, CA 90806

Business Industry:
Remediation Services
NAICS code 562910

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Los Angeles County, CA — SBA Office 0914 — Congressional District: CA-47

Similar Companies near Long Beach

In the Long Beach area, 3 businesses in the "Remediation Services" industry received a PPP loan. These local businesses reported an average of 124 employees (compared to this company's 4) and received an average PPP loan of $1,150,123 (compared to this company's $50,312).

Industry PPP Comparison Statistics

Nationwide, 4,159 businesses in the "Remediation Services" industry received a total of $876.69M 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 18 employees, 350% higher than Absolute Maintenence & Consulting Inc's reported 4 employees, and received an average PPP loan of $210,793, 319% higher than this company's loan of $50,312.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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Source: www.federalpay.org/paycheck-protection-program/absolute-maintenence-consulting-inc-long-beach-ca