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PPP Loan Data — Shims Bargain, Inc.,
Vernon, CA
Shims Bargain, Inc.
Entity: Corporation
Industry: Other Miscellaneous Durable Goods Merchant Wholesalers
Location: Vernon, CA
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Shims Bargain, Inc. is a corporation located at 2600 S Soto St in Vernon, California that received a Coronavirus-related PPP loan from the SBA of $2,502,300.00 in April, 2020.
The company has reported itself as an Asian male owned business, and employed at least 255 people during the applicable loan loan period.
$ PPP Loan Information
Loan Size:
Jobs Retained:
255Loan Approved:
2020-04-14Lender:
BANK OF HOPEShims Bargain, Inc. in Vernon, CA received a Paycheck Protection Loan of $2.5M through BANK OF HOPE, which was approved in April, 2020.
Based on standard PPP eligibility rules, Shims Bargain, Inc.'s total 2019 payroll expenses were approximately $12.01M in order to qualify for the PPP loan amount received.
Based on their reported 255 jobs retained, this equals an estimated average yearly compensation of $47,102 per employee1.
Business Information - Shims Bargain, Inc. in Vernon, CA
2600 S Soto St
Vernon, CA 90058
Business Industry
Other Miscellaneous Durable Goods Merchant Wholesalers (NAICS code 423990)
Business Owner Demographics
Race / Ethnicity: ASIAN
Gender: MALE OWNED
Veteran Status: NON-VETERAN
Congressional District: CA-40Similar Companies near Vernon
In the Vernon area, 35 businesses in the "Other Miscellaneous Durable Goods Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 30 employees (compared to this company's 255) and received an average PPP loan of $149,833 (compared to this company's $2.5M).
Similar Nearby Businesses Who Received PPP Funding:
Core Systems Distribution Corporation
Vernon, CA
Putnam Accessory Group Inc
Vernon, CA
YAD Intl. Inc.
Los Angeles, CA
Tovlev Enterprises Inc.
Vernon, CA
General Import Enterprises, Inc.
Vernon, CA
Unirex Corp.
Vernon, CA
Chalas Supply Chain, Inc.
Vernon, CA
Apeiro Investment, Inc.
Los Angeles, CA
Las Pinas LLC
Los Angeles, CA
Industry PPP Comparison Statistics
Nationwide, 12,909 businesses in the "Other Miscellaneous Durable Goods Merchant Wholesalers" industry received a total of $1,253,322,545.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 8 employees, 97% lower than Shims Bargain, Inc.'s reported 255 employees, and received an average PPP loan of $97,089, 96% lower than this company's loan of $2.5M.
FederalPay's PPP Information Policy
Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan. All information displayed on this page is publicly available information under PPP loan guidelines, and is published unmodified, as provided by the SBA.
Footnotes & Information
1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.
2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.
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