PPP Loan Data — Fire Safety Industries Inc, Albuquerque, NM
Fire Safety Industries Inc
Entity: Subchapter S Corporation
Location: Albuquerque, NMTweet This • Search All PPP Data
Fire Safety Industries Inc is a subchapter s corporation located at 3428 Stanford Dr Ne in Albuquerque, New Mexico that received a Coronavirus-related PPP loan from the SBA of $45,876.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least six people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:U.S. Bank, National Association
Fire Safety Industries Inc in Albuquerque, NM received a Paycheck Protection Loan of $45,876 through U.S. Bank, National Association, which was approved in April, 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 January, 2021.
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, Fire Safety Industries Inc's 2019 payroll expenses are estimated to be at least $220,205.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $36,701 per employee1
Reported PPP Proceed Usage:
On the PPP application, Fire Safety Industries Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $45,876
Business Information - Fire Safety Industries Inc in Albuquerque, NM
3428 Stanford Dr Ne
Albuquerque, NM 87107
Other Automotive Mechanical and Electrical Repair and Maintenance
NAICS code 811118
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Albuquerque
In the Albuquerque area, 12 businesses in the "Other Automotive Mechanical and Electrical Repair and Maintenance" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 6) and received an average PPP loan of $27,651 (compared to this company's $45,876).
Similar Nearby Businesses Who Received PPP Funding:
Rio Grande Automotive LLC
Allstate Hydraulic Inc
Action Alignment Inc
Johnny Jacob Lovato
Industry PPP Comparison Statistics
Nationwide, 22,608 businesses in the "Other Automotive Mechanical and Electrical Repair and Maintenance" industry received a total of $645.02M 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 3 employees, 50% lower than Fire Safety Industries Inc's reported 6 employees, and received an average PPP loan of $28,531, 38% lower than this company's loan of $45,876.
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