PPP Loan Data — Fawcett Painting, Inc, Kent, WA
Fawcett Painting, Inc is a subchapter s corporation located at 8260 S 192nd St in Kent, Washington that received a Coronavirus-related PPP loan from the SBA of $2,019,200.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Fawcett Painting, Inc in Kent, WA received a Paycheck Protection Loan of $2.02M through HomeStreet Bank, which was approved in April, 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, Fawcett Painting, Inc's 2019 payroll expenses are estimated to be at least $9.69M.
Based on their reported 111 jobs retained, this equals an estimated average yearly compensation of $87,317 per employee1
Reported PPP Proceed Usage:
On the PPP application, Fawcett Painting, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,019,200
Business Information - Fawcett Painting, Inc in Kent, WA
8260 S 192nd St
Kent, WA 98032
Painting and Wall Covering Contractors
NAICS code 238320
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Kent
In the Kent area, 29 businesses in the "Painting and Wall Covering Contractors" industry received a PPP loan. These local businesses reported an average of 23 employees (compared to this company's 111) and received an average PPP loan of $374,050 (compared to this company's $2.02M).
Similar Nearby Businesses Who Received PPP Funding:
Painters Unlimited Inc
Seatac Painting Inc
Superior Select Painting Corporation
Cortes & Sons Painting Inc
Estuardo Mejia Matamoros
Widespread Painting LLC
Luis A Escalante Yepes
Lake Union Painting LLC
Industry PPP Comparison Statistics
Nationwide, 50,571 businesses in the "Painting and Wall Covering Contractors" industry received a total of $2.46B 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 5 employees, 95% lower than Fawcett Painting, Inc's reported 111 employees, and received an average PPP loan of $48,668, 98% lower than this company's loan of $2.02M.
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Footnotes & Information
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