PPP Loan Data — PWS, Inc, South Gate, CA
PWS, Inc is a corporation located at Garfield Ave in South Gate, California that received a Coronavirus-related PPP loan from the SBA of $1,538,711.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 96 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First Fidelity Bank
PWS, Inc in South Gate, CA received a Paycheck Protection Loan of $1.54M through First Fidelity 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, PWS, Inc's 2019 payroll expenses are estimated to be at least $7.39M.
Based on their reported 96 jobs retained, this equals an estimated average yearly compensation of $76,936 per employee1
Reported PPP Proceed Usage:
On the PPP application, PWS, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,538,711
Business Information - PWS, Inc in South Gate, CA
South Gate, CA 90280
NAICS code 522220
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near South Gate
In the South Gate area, 4 businesses in the "Sales Financing" industry received a PPP loan. These local businesses reported an average of 25 employees (compared to this company's 96) and received an average PPP loan of $392,024 (compared to this company's $1.54M).
Similar Nearby Businesses Who Received PPP Funding:
Alliance Network Group
South Gate, CA
South Gate, CA
Industry PPP Comparison Statistics
Nationwide, 16,168 businesses in the "Sales Financing" industry received a total of $411.76M 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 2 employees, 98% lower than PWS, Inc's reported 96 employees, and received an average PPP loan of $25,468, 98% lower than this company's loan of $1.54M.
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Footnotes & Information
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