PPP Loan Data — Savela & Associates Inc, Birmingham, AL
Savela & Associates Inc is a corporation located at 3595 Grandview Pkwy Ste 450 in Birmingham, Alabama that received a Coronavirus-related PPP loan from the SBA of $1,812,310.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 145 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Savela & Associates Inc in Birmingham, AL received a Paycheck Protection Loan of $1.81M through BBVA USA, 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 June, 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, Savela & Associates Inc's 2019 payroll expenses are estimated to be at least $8.7M.
Based on their reported 145 jobs retained, this equals an estimated average yearly compensation of $59,994 per employee1
Reported PPP Proceed Usage:
On the PPP application, Savela & Associates Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,659,263
- Rent: $153,047
Business Information - Savela & Associates Inc in Birmingham, AL
3595 Grandview Pkwy Ste 450
Birmingham, AL 35243
Employment Placement Agencies
NAICS code 561311
Business Owner Demographics
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 Birmingham
In the Birmingham area, 10 businesses in the "Employment Placement Agencies" industry received a PPP loan. These local businesses reported an average of 66 employees (compared to this company's 145) and received an average PPP loan of $830,211 (compared to this company's $1.81M).
Similar Nearby Businesses Who Received PPP Funding:
Talon Hiring Solutions LLC
The E Group, LLC
Trimarc Group Inc
Retail Merchandising Services, LLC
ASI Staff Inc
Cahaba Business Services, Inc
Seekingalpha Search International, 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, 76% lower than Savela & Associates Inc's reported 145 employees, and received an average PPP loan of $275,915, 85% lower than this company's loan of $1.81M.
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Footnotes & Information
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