PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Simco Electronics, Santa Clara, CA

SBA PPP loan data, payroll data, and salaries for Simco Electronics
CA

Simco Electronics

Entity: Corporation

Industry: Other Electronic and Precision Equipment Repair and Maintenance

Location: Santa Clara, CA

Search All PPP Data

Simco Electronics is a corporation located at 3131 Jay St in Santa Clara, California that received a Coronavirus-related PPP loan from the SBA of $5,786,800.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$5.79M

Jobs Retained:

344

Loan Approved:

2020-04-07

Lender:

COMERICA BANK

Simco Electronics received a Paycheck Protection Loan of $5.79M through COMERICA BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Simco Electronics' total 2019 payroll expenses were approximately $27.78M in order to qualify for the PPP loan amount received.

Based on their reported 344 jobs retained, this equals an estimated average yearly compensation of $80,746 per employee1.

Because the loan received by Simco Electronics is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Simco Electronics in Santa Clara, CA

Simco Electronics
3131 Jay St
Santa Clara, CA 95054

Business Industry

Other Electronic and Precision Equipment Repair and Maintenance (NAICS code 811219)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: CA-17

Similar Companies near Santa Clara

In the Santa Clara area, 3 businesses in the "Other Electronic and Precision Equipment Repair and Maintenance" industry received a PPP loan. These local businesses reported an average of 118 employees (compared to this company's 344) and received an average PPP loan of $1,983,301 (compared to this company's $5.79M).

Industry PPP Comparison Statistics

Nationwide, 2,660 businesses in the "Other Electronic and Precision Equipment Repair and Maintenance" industry received a total of $269,151,895.00 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, 98% lower than Simco Electronics' reported 344 employees, and received an average PPP loan of $101,185, 98% lower than this company's loan of $5.79M.

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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA.

Search FederalPay's Full PPP Loan Database

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.


Have FederalPay.org's open data tools been valuable? Consider donating!

** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/simco-electronics-santa-clara-ca