PPP Loan Data — Farwest Corrosion Control Company, Downey, CA
Farwest Corrosion Control Company is a corporation located at 12029 Regentview Ave in Downey, California that received a Coronavirus-related PPP loan from the SBA of $2,637,300.00 in April, 2020.
$ PPP Loan Information
Lender:CITY NATIONAL BANK
Farwest Corrosion Control Company in Downey, CA received a Paycheck Protection Loan of $2.64M through CITY NATIONAL BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Farwest Corrosion Control Company's total 2019 payroll expenses were approximately $12.66M in order to qualify for the PPP loan amount received.
Based on their reported 170 jobs retained, this equals an estimated average yearly compensation of $74,465 per employee1.
Business Information - Farwest Corrosion Control Company in Downey, CA
12029 Regentview Ave
Downey, CA 90241
Industrial Supplies Merchant Wholesalers (NAICS code 423840)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: CA-40
Similar Companies near Downey
In the Downey area, 2 businesses in the "Industrial Supplies Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 94 employees (compared to this company's 170) and received an average PPP loan of $1,448,000 (compared to this company's $2.64M).
Similar Nearby Businesses Who Received PPP Funding:
Tri-Star Industrial Products Inc
Industry PPP Comparison Statistics
Nationwide, 4,186 businesses in the "Industrial Supplies Merchant Wholesalers" industry received a total of $780,956,963.00 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 13 employees, 92% lower than Farwest Corrosion Control Company's reported 170 employees, and received an average PPP loan of $186,564, 93% lower than this company's loan of $2.64M.
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Footnotes & Information
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