PPP Loan Data — Motive Energy Telecommunications Group, Inc, Corona, CA
Motive Energy Telecommunications Group, Inc is a corporation located at 755 Trademark Circle in Corona, California that received a Coronavirus-related PPP loan from the SBA of $3,640,425.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Fifth Third Bank
Motive Energy Telecommunications Group, Inc in Corona, CA received a Paycheck Protection Loan of $3.64M 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 July, 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 Telecommunications Group, Inc's 2019 payroll expenses are estimated to be at least $17.47M.
Based on their reported 250 jobs retained, this equals an estimated average yearly compensation of $69,896 per employee1
Reported PPP Proceed Usage:
On the PPP application, Motive Energy Telecommunications Group, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,640,425
Business Information - Motive Energy Telecommunications Group, Inc in Corona, CA
755 Trademark Circle
Corona, CA 92879
Highway, Street, and Bridge Construction
NAICS code 237310
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Corona
In the Corona area, 7 businesses in the "Highway, Street, and Bridge Construction" industry received a PPP loan. These local businesses reported an average of 106 employees (compared to this company's 250) and received an average PPP loan of $1,562,233 (compared to this company's $3.64M).
Similar Nearby Businesses Who Received PPP Funding:
Haitbrink Asphalt Paving, Inc
Hillcrest Contracting Inc
Charles C. Regan Inc
EBS General Engineering, Inc
Superior Paving Company, Inc
EBS Utilities Adjusting, Inc
Industry PPP Comparison Statistics
Nationwide, 11,409 businesses in the "Highway, Street, and Bridge Construction" industry received a total of $3.92B 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 26 employees, 90% lower than Motive Energy Telecommunications Group, Inc's reported 250 employees, and received an average PPP loan of $343,619, 91% lower than this company's loan of $3.64M.
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Footnotes & Information
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