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PPP Loan Data — Forrest Machining Inc., Valencia, CA

SBA PPP loan data, payroll data, and salaries for Forrest Machining Inc.
CA

Forrest Machining Inc.

Entity: Corporation

Industry: Other Aircraft Parts and Auxiliary Equipment Manufacturing

Location: Valencia, CA

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Forrest Machining Inc. is a corporation located at 27756 Avenue Mentry in Valencia, California that received a Coronavirus-related PPP loan from the SBA of $3,115,460.00 in April, 2020.

The company has reported itself as a White female owned business, and employed at least 232 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$3.12M

Jobs Retained:

232

Loan Approved:

2020-04-13

Lender:

MERCHANTS BANK OF COMMERCE

Forrest Machining Inc. in Valencia, CA received a Paycheck Protection Loan of $3.12M through MERCHANTS BANK OF COMMERCE, which was approved in April, 2020.

Based on standard PPP eligibility rules, Forrest Machining Inc.'s total 2019 payroll expenses were approximately $14.95M in order to qualify for the PPP loan amount received.

Based on their reported 232 jobs retained, this equals an estimated average yearly compensation of $64,458 per employee1.

Because the loan received by Forrest Machining Inc. is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Forrest Machining Inc. in Valencia, CA

Forrest Machining Inc.
27756 Avenue Mentry
Valencia, CA 91355

Business Industry

Other Aircraft Parts and Auxiliary Equipment Manufacturing (NAICS code 336413)

Business Owner Demographics

Race / Ethnicity: WHITE

Gender: FEMALE OWNED

Veteran Status: NON-VETERAN

Congressional District: CA-25

Similar Companies near Valencia

In the Valencia area, 9 businesses in the "Other Aircraft Parts and Auxiliary Equipment Manufacturing" industry received a PPP loan. These local businesses reported an average of 41 employees (compared to this company's 232) and received an average PPP loan of $497,502 (compared to this company's $3.12M).

Industry PPP Comparison Statistics

Nationwide, 841 businesses in the "Other Aircraft Parts and Auxiliary Equipment Manufacturing" industry received a total of $453,528,343.00 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 33 employees, 86% lower than Forrest Machining Inc.'s reported 232 employees, and received an average PPP loan of $539,273, 83% lower than this company's loan of $3.12M.

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, and is published unmodified, as provided by the SBA.

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Footnotes & Information

1. 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/forrest-machining-inc-valencia-ca