PPP Loan Data — Plumbing Concepts, Inc, Corona, CA
Plumbing Concepts, Inc
Location: Corona, CATweet This • Search All PPP Data
Plumbing Concepts, Inc is a corporation located at 2445 Railroad St in Corona, California that received a Coronavirus-related PPP loan from the SBA of $1,940,000.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 233 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Citizens Business Bank
Plumbing Concepts, Inc in Corona, CA received a Paycheck Protection Loan of $1.94M through Citizens Business 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 April, 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, Plumbing Concepts, Inc's 2019 payroll expenses are estimated to be at least $9.31M.
Based on their reported 233 jobs retained, this equals an estimated average yearly compensation of $39,966 per employee1
Reported PPP Proceed Usage:
On the PPP application, Plumbing Concepts, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,940,000
Business Information - Plumbing Concepts, Inc in Corona, CA
2445 Railroad St
Corona, CA 92880
Plumbing, Heating, and Air-Conditioning Contractors
NAICS code 238220
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Corona
In the Corona area, 32 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a PPP loan. These local businesses reported an average of 22 employees (compared to this company's 233) and received an average PPP loan of $284,466 (compared to this company's $1.94M).
Similar Nearby Businesses Who Received PPP Funding:
Economy Air Conditioning, Inc
Cantoni Plumbing, Inc
Couts Heating & Cooling Inc
Matrix HVAC, Inc
Industry PPP Comparison Statistics
Nationwide, 105,811 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a total of $13.07B 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 10 employees, 96% lower than Plumbing Concepts, Inc's reported 233 employees, and received an average PPP loan of $123,520, 94% lower than this company's loan of $1.94M.
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