PPP Loan Data — Micro Precision Calibration, Grass Valley, CA
Micro Precision Calibration
Location: Grass Valley, CATweet This • Search All PPP Data
Micro Precision Calibration is a corporation located at 22835 Industrial Place in Grass Valley, California that received a Coronavirus-related PPP loan from the SBA of $2,334,577.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Wells Fargo Bank, National Association
Micro Precision Calibration in Grass Valley, CA received a Paycheck Protection Loan of $2.33M through Wells Fargo Bank, National Association, which was approved in May, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 112. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, Micro Precision Calibration's 2019 payroll expenses are estimated to be at least $11.21M (not accounting for salary amounts > $100k).
Because the 100 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Micro Precision Calibration reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,334,577
Business Information - Micro Precision Calibration in Grass Valley, CA
22835 Industrial Place
Grass Valley, CA 95949
Other Electronic and Precision Equipment Repair and Maintenance
NAICS code 811219
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 4,562 businesses in the "Other Electronic and Precision Equipment Repair and Maintenance" industry received a total of $369.38M 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 8 employees, 92% lower than Micro Precision Calibration's reported 100 employees, and received an average PPP loan of $80,970, 97% lower than this company's loan of $2.33M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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