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PPP Loan Data — Glassfab Tempering Services In, Tracy, CA

SBA PPP loan data, payroll data, and salaries for Glassfab Tempering Services In
CA

Glassfab Tempering Services In

Entity: Corporation

Industry: Other Pressed and Blown Glass and Glassware Manufacturing

Location: Tracy, CA

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Glassfab Tempering Services In is a corporation located at 1448 Mariani Ct in Tracy, California that received a Coronavirus-related PPP loan from the SBA of $3,149,821.00 in April, 2020.

The company has reported itself as an Asian male owned business.

$ PPP Loan Information

Loan Size:

$3.15M

Jobs Retained:

0 Unreported

Loan Approved:

2020-04-11

Lender:

FARMERS & MERCHANTS BANK OF CENTRAL CALIFORNIA

Glassfab Tempering Services In in Tracy, CA received a Paycheck Protection Loan of $3.15M through FARMERS & MERCHANTS BANK OF CENTRAL CALIFORNIA, which was approved in April, 2020.

Based on standard PPP eligibility rules, Glassfab Tempering Services In's total 2019 payroll expenses were approximately $15.12M in order to qualify for the PPP loan amount received.

Unlike most businesses, Glassfab Tempering Services In's PPP data does not report the number of jobs retained by their receipt of the Paycheck Protection Loan (some banks did not release this infomation from their loan applications). Without this data, per-employee payrolls for this company cannot be estimated.

Because the loan received by Glassfab Tempering Services In 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 - Glassfab Tempering Services In in Tracy, CA

Glassfab Tempering Services In
1448 Mariani Ct
Tracy, CA 95376

Business Industry

Other Pressed and Blown Glass and Glassware Manufacturing (NAICS code 327212)

Business Owner Demographics

Race / Ethnicity: ASIAN

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: CA-10

Industry PPP Comparison Statistics

Nationwide, 391 businesses in the "Other Pressed and Blown Glass and Glassware Manufacturing" industry received a total of $65,208,421.00 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 14 employees, and received an average PPP loan of $166,773, 95% lower than this company's loan of $3.15M.

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/glassfab-tempering-services-in-tracy-ca