PPP Loan Data — Gibson Overseas, Inc., Commerce, CA
Gibson Overseas, Inc. is a corporation located at 2410 Yates Ave in Commerce, California that received a Coronavirus-related PPP loan from the SBA of $6,375,000.00 in April, 2020.
$ PPP Loan Information
Lender:MUFG UNION BANK, NATIONAL ASSOCIATION
Gibson Overseas, Inc. in Commerce, CA received a Paycheck Protection Loan of $6.38M through MUFG UNION BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Gibson Overseas, Inc.'s total 2019 payroll expenses were approximately $30.6M in order to qualify for the PPP loan amount received.
Based on their reported 460 jobs retained, this equals an estimated average yearly compensation of $66,522 per employee1.
Business Information - Gibson Overseas, Inc. in Commerce, CA
2410 Yates Ave
Commerce, CA 90040
Home Furnishing Merchant Wholesalers (NAICS code 423220)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: CA-40
Similar Companies near Commerce
In the Commerce area, 12 businesses in the "Home Furnishing Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 49 employees (compared to this company's 460) and received an average PPP loan of $665,111 (compared to this company's $6.38M).
Similar Nearby Businesses Who Received PPP Funding:
Pacific Coast Home Furnishings Inc.
Nanshing America, Inc
Blue Design Group
Commerce Outlet Inc.
Karl Sapper And Son, Inc.
HSE USA LLC
JAO International, Inc.
Aramco Imports, Inc.
Industry PPP Comparison Statistics
Nationwide, 3,013 businesses in the "Home Furnishing Merchant Wholesalers" industry received a total of $467,430,448.00 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 12 employees, 97% lower than Gibson Overseas, Inc.'s reported 460 employees, and received an average PPP loan of $155,138, 98% lower than this company's loan of $6.38M.
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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