PPP Loan Data — Solatube International, Inc, Vista, CA
Solatube International, Inc
Location: Vista, CATweet This • Search All PPP Data
Solatube International, Inc is a corporation located at 2210 Oak Ridge Way in Vista, California that received a Coronavirus-related PPP loan from the SBA of $2,200,700.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:MUFG Union Bank, National Association
Solatube International, Inc in Vista, CA received a Paycheck Protection Loan of $2.2M through MUFG Union Bank, National Association, 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, Solatube International, Inc's 2019 payroll expenses are estimated to be at least $10.56M.
Based on their reported 162 jobs retained, this equals an estimated average yearly compensation of $65,206 per employee1
Reported PPP Proceed Usage:
On the PPP application, Solatube International, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,200,700
Business Information - Solatube International, Inc in Vista, CA
2210 Oak Ridge Way
Vista, CA 92081
Commercial, Industrial, and Institutional Electric Lighting Fixture Manufacturing
NAICS code 335122
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Vista
In the Vista area, 3 businesses in the "Commercial, Industrial, and Institutional Electric Lighting Fixture Manufacturing" industry received a PPP loan. These local businesses reported an average of 70 employees (compared to this company's 162) and received an average PPP loan of $1,007,272 (compared to this company's $2.2M).
Similar Nearby Businesses Who Received PPP Funding:
CS Illumination Inc
Exit Enterprises, Inc
Industry PPP Comparison Statistics
Nationwide, 1,311 businesses in the "Commercial, Industrial, and Institutional Electric Lighting Fixture Manufacturing" industry received a total of $273.64M 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 17 employees, 90% lower than Solatube International, Inc's reported 162 employees, and received an average PPP loan of $208,723, 91% lower than this company's loan of $2.2M.
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