PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Copper Wash LLC, South Gate, CA

ALERT: There are 2 PPP loans for a total of $77,857 in our database for businesses with the name "Copper Wash LLC" in South Gate, CA. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Copper Wash LLC
CA

Copper Wash LLC

Entity: Limited Liability Company (LLC)

Industry: Gasoline Stations with Convenience Stores

Location: South Gate, CA

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Copper Wash LLC is a limited liability company (LLC) located at 5201 Imperial Hwy in South Gate, California that received a Coronavirus-related PPP loan from the SBA of $38,920.00 in February, 2021.

The company has reported itself as an Asian female owned business, and employed at least five people during the applicable loan loan period.

$ PPP Loan Information
Loan #2596388510

Loan Size:

$38,920

Jobs Retained:

5

Loan Approved:

2021-02-20

Loan Status:

Ongoing Loan

Lender:

Wells Fargo Bank, National Association

Copper Wash LLC in South Gate, CA received a Paycheck Protection Loan of $38,920 through Wells Fargo Bank, National Association, which was approved in February, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

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, Copper Wash LLC's 2019 payroll expenses are estimated to be at least $186,816.

Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $37,363 per employee1

Reported PPP Proceed Usage:

On the PPP application, Copper Wash LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $38,917
  • Utilities: $1

Business Information - Copper Wash LLC in South Gate, CA

Copper Wash LLC
5201 Imperial Hwy
South Gate, CA 90280

Business Industry:
Gasoline Stations with Convenience Stores
NAICS code 447110

Business Owner Demographics

Race: Asian

Ethnicity: Not Hispanic or Latino

Gender: Female Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: Y

Rural / Urban: Urban

Los Angeles County, CA — SBA Office 0914 — Congressional District: CA-44

Similar Companies near South Gate

In the South Gate area, 9 businesses in the "Gasoline Stations with Convenience Stores" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 5) and received an average PPP loan of $40,240 (compared to this company's $38,920).

Industry PPP Comparison Statistics

Nationwide, 45,026 businesses in the "Gasoline Stations with Convenience Stores" industry received a total of $2.06B 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 10 employees, 100% higher than Copper Wash LLC's reported 5 employees, and received an average PPP loan of $45,821, 18% higher than this company's loan of $38,920.

SBA PPP loan data, payroll data, and salaries for Copper Wash LLC
CA

Copper Wash LLC

Entity: Limited Liability Company (LLC)

Industry: Car Washes

Location: South Gate, CA

Search All PPP Data

Copper Wash LLC is a limited liability company (LLC) located at 5201 Imperial Hwy in South Gate, California that received a Coronavirus-related PPP loan from the SBA of $38,937.00 in May, 2020.

The company has reported itself as an Asian female owned business, and employed at least five people during the applicable loan loan period.

$ PPP Loan Information
Loan #3857447708

Loan Size:

$38,937

Jobs Retained:

5

Loan Approved:

2020-05-01

Loan Status:

Ongoing Loan

Lender:

Wells Fargo Bank, National Association

Copper Wash LLC in South Gate, CA received a Paycheck Protection Loan of $38,937 through Wells Fargo Bank, National Association, which was approved in May, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

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, Copper Wash LLC's 2019 payroll expenses are estimated to be at least $186,898.

Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $37,380 per employee1

Reported PPP Proceed Usage:

On the PPP application, Copper Wash LLC reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $38,937

Business Information - Copper Wash LLC in South Gate, CA

Copper Wash LLC
5201 Imperial Hwy
South Gate, CA 90280

Business Industry:
Car Washes
NAICS code 811192

Business Owner Demographics

Race: Asian

Ethnicity: Not Hispanic or Latino

Gender: Female Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: Y

Rural / Urban: Urban

Los Angeles County, CA — SBA Office 0914 — Congressional District: CA-44

Similar Companies near South Gate

In the South Gate area, 5 businesses in the "Car Washes" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 5) and received an average PPP loan of $38,072 (compared to this company's $38,937).

Industry PPP Comparison Statistics

Nationwide, 26,021 businesses in the "Car Washes" industry received a total of $986.15M 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 7 employees, 40% higher than Copper Wash LLC's reported 5 employees, and received an average PPP loan of $37,898, 3% lower than this company's loan of $38,937.

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/copper-wash-llc-south-gate-ca