PPP Loan Data — Smith Fire Systems, Inc, Tacoma, WA
Smith Fire Systems, Inc
Entity: Sole Proprietorship
Location: Tacoma, WATweet This • Search All PPP Data
Smith Fire Systems, Inc is a sole proprietorship located at 1106 54th Avenue East in Tacoma, Washington that received a Coronavirus-related PPP loan from the SBA of $2,708,900.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 150 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Smith Fire Systems, Inc in Tacoma, WA received a Paycheck Protection Loan of $2.71M through Customers 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, Smith Fire Systems, Inc's 2019 payroll expenses are estimated to be at least $13M.
Based on their reported 150 jobs retained, this equals an estimated average yearly compensation of $86,685 per employee1
Reported PPP Proceed Usage:
On the PPP application, Smith Fire Systems, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,708,900
Business Information - Smith Fire Systems, Inc in Tacoma, WA
1106 54th Avenue East
Tacoma, WA 98424
All Other Miscellaneous Store Retailers (except Tobacco Stores)
NAICS code 453998
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 Tacoma
In the Tacoma area, 7 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a PPP loan. These local businesses reported an average of 49 employees (compared to this company's 150) and received an average PPP loan of $719,431 (compared to this company's $2.71M).
Similar Nearby Businesses Who Received PPP Funding:
Mobility Concepts Inc
Louie G's Pizzeria
RJM Precision Instruments, LLC
Veneer Chip Transport, Inc
The Pool Company Inc
Industry PPP Comparison Statistics
Nationwide, 152,436 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a total of $5.23B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 4 employees, 97% lower than Smith Fire Systems, Inc's reported 150 employees, and received an average PPP loan of $34,329, 99% lower than this company's loan of $2.71M.
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Footnotes & Information
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