PPP Loan Data — Protech Staffing Services, Inc, Riverside, CA
Protech Staffing Services, Inc is a corporation located at 1737 Atlanta Ave- Ste H2 B in Riverside, California that received a Coronavirus-related PPP loan from the SBA of $2,278,100.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 400 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Harvest Small Business Finance, LLC
Protech Staffing Services, Inc in Riverside, CA received a Paycheck Protection Loan of $2.28M through Harvest Small Business Finance, LLC, 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, Protech Staffing Services, Inc's 2019 payroll expenses are estimated to be at least $10.93M.
Based on their reported 400 jobs retained, this equals an estimated average yearly compensation of $27,337 per employee1
Reported PPP Proceed Usage:
On the PPP application, Protech Staffing Services, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,278,100
Business Information - Protech Staffing Services, Inc in Riverside, CA
1737 Atlanta Ave- Ste H2 B
Riverside, CA 92507
Employment Placement Agencies
NAICS code 561311
Business Owner Demographics
Ethnicity: Hispanic or Latino
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Riverside
In the Riverside area, 3 businesses in the "Employment Placement Agencies" industry received a PPP loan. These local businesses reported an average of 315 employees (compared to this company's 400) and received an average PPP loan of $1,140,652 (compared to this company's $2.28M).
Similar Nearby Businesses Who Received PPP Funding:
T & T Staffing, Inc
Staff Right Solutions Inc
Industry PPP Comparison Statistics
Nationwide, 12,601 businesses in the "Employment Placement Agencies" industry received a total of $3.48B 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 35 employees, 91% lower than Protech Staffing Services, Inc's reported 400 employees, and received an average PPP loan of $275,915, 88% lower than this company's loan of $2.28M.
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Footnotes & Information
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