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PPP Loan Data — HM Electronics Inc, Carlsbad, CA

SBA PPP loan data, payroll data, and salaries for HM Electronics Inc
CA

HM Electronics Inc

Entity: Corporation

Industry: Other Electronic Parts and Equipment Merchant Wholesalers

Location: Carlsbad, CA

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HM Electronics Inc is a corporation located at 2848 Whiptail Loop in Carlsbad, California that received a Coronavirus-related PPP loan from the SBA of $4,328,729.00 in May, 2020.

$ PPP Loan Information

Loan Size:

$4.33M

Jobs Retained:

0 Unreported

Loan Approved:

2020-05-01

Lender:

WELLS FARGO BANK, NATIONAL ASSOCIATION

HM Electronics Inc received a Paycheck Protection Loan of $4.33M through WELLS FARGO BANK, NATIONAL ASSOCIATION, which was approved in May, 2020.

Based on standard PPP eligibility rules, HM Electronics Inc's total 2019 payroll expenses were approximately $20.78M in order to qualify for the PPP loan amount received.

Unlike most businesses, HM Electronics Inc'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 HM Electronics 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 - HM Electronics Inc in Carlsbad, CA

HM Electronics Inc
2848 Whiptail Loop
Carlsbad, CA 92010

Business Industry

Other Electronic Parts and Equipment Merchant Wholesalers (NAICS code 423690)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: CA-49

Similar Companies near Carlsbad

In the Carlsbad area, 2 businesses in the "Other Electronic Parts and Equipment Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 1 employees (compared to this company's 0) and received an average PPP loan of $2,180,025 (compared to this company's $4.33M).

Similar Nearby Businesses Who Received PPP Funding:

Clark International Inc.
Carlsbad, CA

$31,320 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 2,976 businesses in the "Other Electronic Parts and Equipment Merchant Wholesalers" industry received a total of $458,980,945.00 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 11 employees, and received an average PPP loan of $154,227, 96% lower than this company's loan of $4.33M.

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/hm-electronics-inc-carlsbad-ca