PPP Loan Data — Eugene Welders Supply Co, Springfield, OR
Eugene Welders Supply Co
Entity: Subchapter S Corporation
Location: Springfield, ORTweet This • Search All PPP Data
Eugene Welders Supply Co is a subchapter s corporation located at 3500 Commercial Avenue in Springfield, Oregon that received a Coronavirus-related PPP loan from the SBA of $1,877,200.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Eugene Welders Supply Co in Springfield, OR received a Paycheck Protection Loan of $1.88M through Umpqua Bank, which was approved in April, 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
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, Eugene Welders Supply Co's 2019 payroll expenses are estimated to be at least $9.01M.
Based on their reported 109 jobs retained, this equals an estimated average yearly compensation of $82,666 per employee1
Reported PPP Proceed Usage:
On the PPP application, Eugene Welders Supply Co reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,877,200
Business Information - Eugene Welders Supply Co in Springfield, OR
3500 Commercial Avenue
Springfield, OR 97478
Other Miscellaneous Durable Goods Merchant Wholesalers
NAICS code 423990
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Springfield
In the Springfield area, 2 businesses in the "Other Miscellaneous Durable Goods Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 87 employees (compared to this company's 109) and received an average PPP loan of $1,432,040 (compared to this company's $1.88M).
Similar Nearby Businesses Who Received PPP Funding:
Curtis Restaurant Equipment, Inc
Industry PPP Comparison Statistics
Nationwide, 26,568 businesses in the "Other Miscellaneous Durable Goods Merchant Wholesalers" industry received a total of $1.98B 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, 94% lower than Eugene Welders Supply Co's reported 109 employees, and received an average PPP loan of $74,615, 96% lower than this company's loan of $1.88M.
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Footnotes & Information
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