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PPP Loan Data — Peak Alarm Company Inc., Salt Lake City, UT

SBA PPP loan data, payroll data, and salaries for Peak Alarm Company Inc.
UT

Peak Alarm Company Inc.

Entity: Corporation

Industry: Security Systems Services (except Locksmiths)

Location: Salt Lake City, UT

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Peak Alarm Company Inc. is a corporation located at 1534 S. Gladiola St in Salt Lake City, Utah that received a Coronavirus-related PPP loan from the SBA of $2,437,000.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least 250 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$2.44M

Jobs Retained:

250

Loan Approved:

2020-04-04

Lender:

CIBC BANK USA

Peak Alarm Company Inc. received a Paycheck Protection Loan of $2.44M through CIBC BANK USA, which was approved in April, 2020.

Based on standard PPP eligibility rules, Peak Alarm Company Inc.'s total 2019 payroll expenses were approximately $11.7M in order to qualify for the PPP loan amount received.

Based on their reported 250 jobs retained, this equals an estimated average yearly compensation of $46,790 per employee1.

Because the loan received by Peak Alarm Company Inc. 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 - Peak Alarm Company Inc. in Salt Lake City, UT

Peak Alarm Company Inc.
1534 S. Gladiola St
Salt Lake City, UT 84104

Business Industry

Security Systems Services (except Locksmiths) (NAICS code 561621)

Business Owner Demographics

Race / Ethnicity: WHITE

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: UT-02

Similar Companies near Salt Lake City

In the Salt Lake City area, 2 businesses in the "Security Systems Services (except Locksmiths)" industry received a PPP loan. These local businesses reported an average of 125 employees (compared to this company's 250) and received an average PPP loan of $1,325,885 (compared to this company's $2.44M).

Similar Nearby Businesses Who Received PPP Funding:

Cadena Incorporated
Salt Lake City, UT

$214,770 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 5,289 businesses in the "Security Systems Services (except Locksmiths)" industry received a total of $839,803,057.00 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, 94% lower than Peak Alarm Company Inc.'s reported 250 employees, and received an average PPP loan of $158,783, 93% lower than this company's loan of $2.44M.

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.

Search FederalPay's Full PPP Loan Database

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/peak-alarm-company-inc-salt-lake-city-ut