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PPP Loan Data — Alco Iron & Metal Co, San Leandro, CA

SBA PPP loan data, payroll data, and salaries for Alco Iron & Metal Co
CA

Alco Iron & Metal Co

Entity: Corporation

Industry: Recyclable Material Merchant Wholesalers

Location: San Leandro, CA

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Alco Iron & Metal Co is a corporation located at 2140 Davis St in San Leandro, California that received a Coronavirus-related PPP loan from the SBA of $2,891,312.00 in May, 2020.

$ PPP Loan Information

Loan Size:

$2.89M

Jobs Retained:

194

Loan Approved:

2020-05-01

Lender:

BANK OF AMERICA, NATIONAL ASSOCIATION

Alco Iron & Metal Co received a Paycheck Protection Loan of $2.89M through BANK OF AMERICA, NATIONAL ASSOCIATION, which was approved in May, 2020.

Based on standard PPP eligibility rules, Alco Iron & Metal Co's total 2019 payroll expenses were approximately $13.88M in order to qualify for the PPP loan amount received.

Based on their reported 194 jobs retained, this equals an estimated average yearly compensation of $71,538 per employee1.

Because the loan received by Alco Iron & Metal Co 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 - Alco Iron & Metal Co in San Leandro, CA

Alco Iron & Metal Co
2140 Davis St
San Leandro, CA 94577

Business Industry

Recyclable Material Merchant Wholesalers (NAICS code 423930)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: CA-13

Similar Companies near San Leandro

In the San Leandro area, 2 businesses in the "Recyclable Material Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 108 employees (compared to this company's 194) and received an average PPP loan of $1,595,681 (compared to this company's $2.89M).

Similar Nearby Businesses Who Received PPP Funding:

D C Metals, Inc.
San Leandro, CA

$300,049 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 4,300 businesses in the "Recyclable Material Merchant Wholesalers" industry received a total of $657,310,017.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 14 employees, 93% lower than Alco Iron & Metal Co's reported 194 employees, and received an average PPP loan of $152,863, 95% lower than this company's loan of $2.89M.

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.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. 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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/alco-iron-and-metal-co-san-leandro-ca