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PPP Loan Data — Mike Thompson Recreational Vehicles, Santa Fe Springs, CA

SBA PPP loan data, payroll data, and salaries for Mike Thompson Recreational Vehicles
CA

Mike Thompson Recreational Vehicles

Entity: Sole Proprietorship

Industry: Recreational Vehicle Dealers

Location: Santa Fe Springs, CA

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Mike Thompson Recreational Vehicles is a sole proprietorship located at 13940 Firestone Blvd in Santa Fe Springs, California that received a Coronavirus-related PPP loan from the SBA of $4,425,830.00 in May, 2020.

The company has reported itself as a male owned business, and employed at least 360 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$4.43M

Jobs Retained:

360

Loan Approved:

2020-05-01

Lender:

BANK OF AMERICA, NATIONAL ASSOCIATION

Mike Thompson Recreational Vehicles received a Paycheck Protection Loan of $4.43M through BANK OF AMERICA, NATIONAL ASSOCIATION, which was approved in May, 2020.

Based on standard PPP eligibility rules, Mike Thompson Recreational Vehicles' total 2019 payroll expenses were approximately $21.24M in order to qualify for the PPP loan amount received.

Based on their reported 360 jobs retained, this equals an estimated average yearly compensation of $59,011 per employee1.

Because the loan received by Mike Thompson Recreational Vehicles 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 - Mike Thompson Recreational Vehicles in Santa Fe Springs, CA

Mike Thompson Recreational Vehicles
13940 Firestone Blvd
Santa Fe Springs, CA 90670

Business Industry

Recreational Vehicle Dealers (NAICS code 441210)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: CA-38

Industry PPP Comparison Statistics

Nationwide, 2,269 businesses in the "Recreational Vehicle Dealers" industry received a total of $427,538,087.00 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 16 employees, 96% lower than Mike Thompson Recreational Vehicles' reported 360 employees, and received an average PPP loan of $188,426, 96% lower than this company's loan of $4.43M.

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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Source: www.federalpay.org/paycheck-protection-program/mike-thompson-recreational-vehicles-santa-fe-springs-ca