PPP Loan Data — Motive Energy, Inc, Anaheim, CA
Motive Energy, Inc
Industry: Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment Merchant Wholesalers
Location: Anaheim, CATweet This • Search All PPP Data
Motive Energy, Inc is a corporation located at 125 E. Commercial St in Anaheim, California that received a Coronavirus-related PPP loan from the SBA of $1,961,320.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Fifth Third Bank
Motive Energy, Inc in Anaheim, CA received a Paycheck Protection Loan of $1.96M through Fifth Third Bank, 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 May, 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, Motive Energy, Inc's 2019 payroll expenses are estimated to be at least $9.41M.
Based on their reported 131 jobs retained, this equals an estimated average yearly compensation of $71,865 per employee1
Reported PPP Proceed Usage:
On the PPP application, Motive Energy, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,961,320
Business Information - Motive Energy, Inc in Anaheim, CA
125 E. Commercial St
Anaheim, CA 92801
Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment Merchant Wholesalers
NAICS code 423610
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Anaheim
In the Anaheim area, 5 businesses in the "Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 32 employees (compared to this company's 131) and received an average PPP loan of $475,933 (compared to this company's $1.96M).
Similar Nearby Businesses Who Received PPP Funding:
Flawless Vape Wholesale & Distribution
Industry PPP Comparison Statistics
Nationwide, 7,686 businesses in the "Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment Merchant Wholesalers" industry received a total of $1.31B 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 14 employees, 89% lower than Motive Energy, Inc's reported 131 employees, and received an average PPP loan of $170,366, 91% lower than this company's loan of $1.96M.
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Footnotes & Information
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