PPP Loan Data — Can Lines Engineering, Inc, Downey, CA
Can Lines Engineering, Inc is a corporation located at 9839 Downey Norwalk Rd in Downey, California that received a Coronavirus-related PPP loan from the SBA of $1,725,700.00 in May, 2020.
The company has reported itself as a male owned business, and employed at least 101 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Can Lines Engineering, Inc in Downey, CA received a Paycheck Protection Loan of $1.73M through CalPrivate Bank, which was approved in May, 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 December, 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, Can Lines Engineering, Inc's 2019 payroll expenses are estimated to be at least $8.28M.
Based on their reported 101 jobs retained, this equals an estimated average yearly compensation of $82,013 per employee1
Reported PPP Proceed Usage:
On the PPP application, Can Lines Engineering, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,650,700
- Utilities: $25,000
- Rent: $50,000
Business Information - Can Lines Engineering, Inc in Downey, CA
9839 Downey Norwalk Rd
Downey, CA 90241
Industrial Valve Manufacturing
NAICS code 332911
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 777 businesses in the "Industrial Valve Manufacturing" industry received a total of $282.78M 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 27 employees, 73% lower than Can Lines Engineering, Inc's reported 101 employees, and received an average PPP loan of $363,934, 79% lower than this company's loan of $1.73M.
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Footnotes & Information
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