PPP Loan Data — Promex Industries, Inc, Santa Clara, CA
Promex Industries, Inc
Location: Santa Clara, CATweet This • Search All PPP Data
Promex Industries, Inc is a corporation located at 3075 Oakmead Village Dr in Santa Clara, California that received a Coronavirus-related PPP loan from the SBA of $1,752,000.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 117 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Western Alliance Bank
Promex Industries, Inc in Santa Clara, CA received a Paycheck Protection Loan of $1.75M through Western Alliance Bank, which was approved in April, 2020.
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, Promex Industries, Inc's 2019 payroll expenses are estimated to be at least $8.41M.
Based on their reported 117 jobs retained, this equals an estimated average yearly compensation of $71,877 per employee1
Reported PPP Proceed Usage:
On the PPP application, Promex Industries, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,393,854
- Rent: $102,395
- Health Care: $255,751
Business Information - Promex Industries, Inc in Santa Clara, CA
3075 Oakmead Village Dr
Santa Clara, CA 95051
Printed Circuit Assembly (Electronic Assembly) Manufacturing
NAICS code 334418
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 Santa Clara
In the Santa Clara area, 4 businesses in the "Printed Circuit Assembly (Electronic Assembly) Manufacturing" industry received a PPP loan. These local businesses reported an average of 63 employees (compared to this company's 117) and received an average PPP loan of $896,455 (compared to this company's $1.75M).
Similar Nearby Businesses Who Received PPP Funding:
Surface Mount Solutions LLC
Santa Clara, CA
Promex Industries Incorporated
Santa Clara, CA
Industry PPP Comparison Statistics
Nationwide, 908 businesses in the "Printed Circuit Assembly (Electronic Assembly) Manufacturing" industry received a total of $317.43M 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 32 employees, 73% lower than Promex Industries, Inc's reported 117 employees, and received an average PPP loan of $349,590, 80% lower than this company's loan of $1.75M.
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Footnotes & Information
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