PPP Loan Data — KLS Inc, Puyallup, WA
KLS Inc is a subchapter s corporation located at 1400 River Rd 0.0 in Puyallup, Washington that received a Coronavirus-related PPP loan from the SBA of $1,750,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:JPMorgan Chase Bank, National Association
KLS Inc in Puyallup, WA received a Paycheck Protection Loan of $1.75M through JPMorgan Chase Bank, National Association, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in June, 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, KLS Inc's 2019 payroll expenses are estimated to be at least $8.4M.
Based on their reported 130 jobs retained, this equals an estimated average yearly compensation of $64,615 per employee1
Reported PPP Proceed Usage:
On the PPP application, KLS Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,575,000
- Utilities: $10,000
- Rent: $140,000
- Health Care: $25,000
Business Information - KLS Inc in Puyallup, WA
1400 River Rd 0.0
Puyallup, WA 98371
New Car Dealers
NAICS code 441110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Puyallup
In the Puyallup area, 11 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 69 employees (compared to this company's 130) and received an average PPP loan of $876,691 (compared to this company's $1.75M).
Similar Nearby Businesses Who Received PPP Funding:
Puyallup Auto Source II Inc
In N Out Auto Sales LLC
Sawyer Corporate Group Inc
Chevrolet Buick Gmc Of Puyallup, Inc
Tacoma Auto Recycling LLC
Puyallup Nissan, Inc
Volkswagen Of Puyallup Inc
Industry PPP Comparison Statistics
Nationwide, 19,896 businesses in the "New Car Dealers" industry received a total of $12.31B 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 52 employees, 60% lower than KLS Inc's reported 130 employees, and received an average PPP loan of $618,860, 65% lower than this company's loan of $1.75M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!