PPP Loan Data — Gectwo, Inc., Gardena, CA
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Gectwo, Inc. is a corporation located at 1545 W El Segundo Blvd in Gardena, California that received a Coronavirus-related PPP loan from the SBA of $2,645,500.00 in April, 2020.
The company has reported itself as an American indian or alaska native male owned business, and employed at least 130 people during the applicable loan loan period.
$ PPP Loan Information
Lender:ZIONS BANK, A DIVISION OF
Gectwo, Inc. in Gardena, CA received a Paycheck Protection Loan of $2.65M through ZIONS BANK, A DIVISION OF, which was approved in April, 2020.
Based on standard PPP eligibility rules, Gectwo, Inc.'s total 2019 payroll expenses were approximately $12.7M in order to qualify for the PPP loan amount received.
Based on their reported 130 jobs retained, this equals an estimated average yearly compensation of $97,680 per employee1.
Business Information - Gectwo, Inc. in Gardena, CA
1545 W El Segundo Blvd
Gardena, CA 90249
Electrical Contractors and Other Wiring Installation Contractors (NAICS code 238210)
Business Owner Demographics
Race / Ethnicity: AMERICAN INDIAN OR ALASKA NATIVE
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional District: CA-43
Similar Companies near Gardena
In the Gardena area, 11 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 37 employees (compared to this company's 130) and received an average PPP loan of $497,519 (compared to this company's $2.65M).
Similar Nearby Businesses Who Received PPP Funding:
Conner Communications Corporation
Shanley Electric Inc
NEC Electric Inc
Automated Systems International Inc
Rovazzini Electric Inc
Worldwide Sourcing Group, Inc.
Industry PPP Comparison Statistics
Nationwide, 44,489 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a total of $8,060,101,877.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 12 employees, 91% lower than Gectwo, Inc.'s reported 130 employees, and received an average PPP loan of $181,171, 93% lower than this company's loan of $2.65M.
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.
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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