TX

Northwest Fastener And Supply, Inc

Entity: Corporation

Industry: Industrial Supplies Merchant Wholesalers

Location: Houston, TX

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Northwest Fastener And Supply, Inc is a corporation located at 11320 Fm 529 Bldg F in Houston, Texas that received a Coronavirus-related PPP loan from the SBA of $149,242.00 in May, 2020.

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

$ PPP Loan Information Loan #1781667708

Northwest Fastener And Supply, Inc in Houston, TX received a Paycheck Protection Loan of $149,242 through JPMorgan Chase Bank, National Association, which was approved in May, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

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, Northwest Fastener And Supply, Inc's 2019 payroll expenses are estimated to be at least $716,362.

Based on their reported 13 jobs retained, this equals an estimated average yearly compensation of $55,105 per employee¹

Reported PPP Proceed Usage:

On the PPP application, Northwest Fastener And Supply, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

• Payroll: $115,542
• Utilities: $2,700
• Rent: $22,000
• Health Care: $9,000

Business Information - Northwest Fastener And Supply, Inc in Houston, TX

Similar Companies near Houston

In the Houston area, 23 businesses in the "Industrial Supplies Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 26 employees (compared to this company's 13) and received an average PPP loan of $550,303 (compared to this company's $149,242).

Industry PPP Comparison Statistics

Nationwide, 6,089 businesses in the "Industrial Supplies Merchant Wholesalers" industry received a total of $1,008,752,760.00 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 14 employees, 8% higher than Northwest Fastener And Supply, Inc's reported 13 employees, and received an average PPP loan of $165,668, 11% higher than this company's loan of $149,242.