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PPP Loan Data — Harbor Pipe & Steel, Inc, Riverside, CA

SBA PPP loan data, payroll data, and salaries for Harbor Pipe & Steel, Inc
CA

Harbor Pipe & Steel, Inc

Entity: Subchapter S Corporation

Industry: Metal Service Centers and Other Metal Merchant Wholesalers

Location: Riverside, CA

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Harbor Pipe & Steel, Inc is a subchapter s corporation located at 1495 Columbia Ave Bldg #10 in Riverside, California that received a Coronavirus-related PPP loan from the SBA of $2,941,642.00 in May, 2020.

$ PPP Loan Information

Loan Size:

$2.94M

Jobs Retained:

221

Loan Approved:

2020-05-07

Lender:

BANK OF THE WEST

Harbor Pipe & Steel, Inc received a Paycheck Protection Loan of $2.94M through BANK OF THE WEST, which was approved in May, 2020.

Based on standard PPP eligibility rules, Harbor Pipe & Steel, Inc's total 2019 payroll expenses were approximately $14.12M in order to qualify for the PPP loan amount received.

Based on their reported 221 jobs retained, this equals an estimated average yearly compensation of $63,891 per employee1.

Because the loan received by Harbor Pipe & Steel, 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 - Harbor Pipe & Steel, Inc in Riverside, CA

Harbor Pipe & Steel, Inc
1495 Columbia Ave Bldg #10
Riverside, CA 92507

Business Industry

Metal Service Centers and Other Metal Merchant Wholesalers (NAICS code 423510)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: CA-41

Similar Companies near Riverside

In the Riverside area, 3 businesses in the "Metal Service Centers and Other Metal Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 77 employees (compared to this company's 221) and received an average PPP loan of $1,016,040 (compared to this company's $2.94M).

Industry PPP Comparison Statistics

Nationwide, 2,691 businesses in the "Metal Service Centers and Other Metal Merchant Wholesalers" industry received a total of $697,432,843.00 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 18 employees, 92% lower than Harbor Pipe & Steel, Inc's reported 221 employees, and received an average PPP loan of $259,172, 91% lower than this company's loan of $2.94M.

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.

Search FederalPay's Full PPP Loan Database

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/harbor-pipe-and-steel-inc-riverside-ca