PPP Loan Data — JT Wimsatt Contracting Company Inc, Valencia, CA
JT Wimsatt Contracting Company Inc
Location: Valencia, CATweet This • Search All PPP Data
JT Wimsatt Contracting Company Inc is a corporation located at 28064 Avenue Stanford Unit B in Valencia, California that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in January, 2021.
The company has reported itself as a female owned business, and employed at least 218 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
JT Wimsatt Contracting Company Inc in Valencia, CA received a Paycheck Protection Loan of $2M through Preferred Bank, which was approved in January, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
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, JT Wimsatt Contracting Company Inc's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 218 jobs retained, this equals an estimated average yearly compensation of $44,037 per employee1
Reported PPP Proceed Usage:
On the PPP application, JT Wimsatt Contracting Company Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,000,000
Business Information - JT Wimsatt Contracting Company Inc in Valencia, CA
28064 Avenue Stanford Unit B
Valencia, CA 91355
Poured Concrete Foundation and Structure Contractors
NAICS code 238110
Business Owner Demographics
Gender: Female Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Valencia
In the Valencia area, 6 businesses in the "Poured Concrete Foundation and Structure Contractors" industry received a PPP loan. These local businesses reported an average of 80 employees (compared to this company's 218) and received an average PPP loan of $1,509,660 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Central Shotcrete Inc
Aqua Concepts Inc
Ross Concrete & Masonry Inc
J.t. Wimsatt Contracting Co., Inc
Santa Clarita, CA
Industry PPP Comparison Statistics
Nationwide, 21,801 businesses in the "Poured Concrete Foundation and Structure Contractors" industry received a total of $3.02B 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 13 employees, 94% lower than JT Wimsatt Contracting Company Inc's reported 218 employees, and received an average PPP loan of $138,620, 93% lower than this company's loan of $2M.
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