PPP Loan Data — King Contract Glass, Manteca, CA
King Contract Glass is a corporation located at 582 Commerce Court in Manteca, California that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of the West
King Contract Glass in Manteca, CA received a Paycheck Protection Loan of $25,000 through Bank of the West, which was approved in May, 2020.
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, King Contract Glass' 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, King Contract Glass reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - King Contract Glass in Manteca, CA
582 Commerce Court
Manteca, CA 95336
Glass and Glazing Contractors
NAICS code 238150
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Manteca
In the Manteca area, 2 businesses in the "Glass and Glazing Contractors" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 3) and received an average PPP loan of $15,000 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Superglass Windshield Repair 209 Inc
Industry PPP Comparison Statistics
Nationwide, 7,547 businesses in the "Glass and Glazing Contractors" industry received a total of $1.07B 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 12 employees, 300% higher than King Contract Glass' reported 3 employees, and received an average PPP loan of $142,027, 468% higher than this company's loan of $25,000.
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