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PPP Loan Data — HL Welding Inc, National City, CA

SBA PPP loan data, payroll data, and salaries for HL Welding Inc
CA

HL Welding Inc

Entity: Subchapter S Corporation

Industry: Other Foundation, Structure, and Building Exterior Contractors

Location: National City, CA

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HL Welding Inc is a subchapter s corporation located at 2434 Southport Way, Suite L in National City, California that received a Coronavirus-related PPP loan from the SBA of $2,940,500.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 304 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$2.94M

Jobs Retained:

304

Loan Approved:

2020-04-13

Lender:

OLD NATIONAL BANK

HL Welding Inc received a Paycheck Protection Loan of $2.94M through OLD NATIONAL BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, HL Welding Inc's total 2019 payroll expenses were approximately $14.11M in order to qualify for the PPP loan amount received.

Based on their reported 304 jobs retained, this equals an estimated average yearly compensation of $46,429 per employee1.

Because the loan received by HL Welding 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 - HL Welding Inc in National City, CA

HL Welding Inc
2434 Southport Way, Suite L
National City, CA 91950

Business Industry

Other Foundation, Structure, and Building Exterior Contractors (NAICS code 238190)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: Unreported

Congressional District: CA-51

Similar Companies near National City

In the National City area, 2 businesses in the "Other Foundation, Structure, and Building Exterior Contractors" industry received a PPP loan. These local businesses reported an average of 154 employees (compared to this company's 304) and received an average PPP loan of $1,475,618 (compared to this company's $2.94M).

Similar Nearby Businesses Who Received PPP Funding:

OMC Construction
National City, CA

$10,735 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 4,963 businesses in the "Other Foundation, Structure, and Building Exterior Contractors" industry received a total of $534,047,117.00 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 9 employees, 97% lower than HL Welding Inc's reported 304 employees, and received an average PPP loan of $107,606, 96% 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/hl-welding-inc-national-city-ca