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PPP Loan Data — I Buy Power, La Puente, CA

SBA PPP loan data, payroll data, and salaries for I Buy Power
CA

I Buy Power

Entity: Corporation

Industry: Computer and Computer Peripheral Equipment and Software Merchant Wholesalers

Location: La Puente, CA

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I Buy Power is a corporation located at 529 N. Baldwin Park Blvd in La Puente, California that received a Coronavirus-related PPP loan from the SBA of $4,600,407.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 235 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$4.6M

Jobs Retained:

235

Loan Approved:

2020-04-27

Lender:

CATHAY BANK

I Buy Power received a Paycheck Protection Loan of $4.6M through CATHAY BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, I Buy Power's total 2019 payroll expenses were approximately $22.08M in order to qualify for the PPP loan amount received.

Based on their reported 235 jobs retained, this equals an estimated average yearly compensation of $93,966 per employee1.

Because the loan received by I Buy Power 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 - I Buy Power in La Puente, CA

I Buy Power
529 N. Baldwin Park Blvd
La Puente, CA 91746

Business Industry

Computer and Computer Peripheral Equipment and Software Merchant Wholesalers (NAICS code 423430)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: CA-32

Similar Companies near La Puente

In the La Puente area, 10 businesses in the "Computer and Computer Peripheral Equipment and Software Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 38 employees (compared to this company's 235) and received an average PPP loan of $621,892 (compared to this company's $4.6M).

Industry PPP Comparison Statistics

Nationwide, 2,714 businesses in the "Computer and Computer Peripheral Equipment and Software Merchant Wholesalers" industry received a total of $530,433,905.00 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 12 employees, 95% lower than I Buy Power's reported 235 employees, and received an average PPP loan of $195,444, 96% lower than this company's loan of $4.6M.

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.

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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/i-buy-power-la-puente-ca