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PPP Loan Data — Gonzalez Machines Inc, Kenner, LA

SBA PPP loan data, payroll data, and salaries for Gonzalez Machines Inc
LA

Gonzalez Machines Inc

Entity: Subchapter S Corporation

Industry: Other Commercial and Service Industry Machinery Manufacturing

Location: Kenner, LA

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Gonzalez Machines Inc is a subchapter s corporation located at 35 W 27th St in Kenner, Louisiana that received a Coronavirus-related PPP loan from the SBA of $17,500.00 in June, 2020.

$ PPP Loan Information
Loan #9317867810

Loan Size:

$17,500

Jobs Retained:

5

Loan Approved:

2020-06-08

Loan Status:

Paid in Full or Forgiven

Lender:

JPMorgan Chase Bank, National Association

Gonzalez Machines Inc in Kenner, LA received a Paycheck Protection Loan of $17,500 through JPMorgan Chase Bank, National Association, which was approved in June, 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 May, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Gonzalez Machines Inc's 2019 payroll expenses are estimated to be at least $84,000.

Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $16,800 per employee1

Reported PPP Proceed Usage:

On the PPP application, Gonzalez Machines Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $16,300
  • Utilities: $1,200

Business Information - Gonzalez Machines Inc in Kenner, LA

Gonzalez Machines Inc
35 W 27th St
Kenner, LA 70062

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: Y

Rural / Urban: Urban

Jefferson County, LA — SBA Office 0679 — Congressional District: LA-02

Similar Companies near Kenner

In the Kenner area, 3 businesses in the "Other Commercial and Service Industry Machinery Manufacturing" industry received a PPP loan. These local businesses reported an average of 136 employees (compared to this company's 5) and received an average PPP loan of $1,900,867 (compared to this company's $17,500).

Industry PPP Comparison Statistics

Nationwide, 2,836 businesses in the "Other Commercial and Service Industry Machinery Manufacturing" industry received a total of $533.94M 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 15 employees, 200% higher than Gonzalez Machines Inc's reported 5 employees, and received an average PPP loan of $188,271, 976% higher than this company's loan of $17,500.

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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

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Footnotes & Information

1. Estimations for informational purposes only. 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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Source: www.federalpay.org/paycheck-protection-program/gonzalez-machines-inc-kenner-la