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PPP Loan Data — South Bay Sand Blasting And Tank Cleaning Inc,
National City, CA
South Bay Sand Blasting And Tank Cleaning Inc
Entity: Corporation
Industry: Ship Building and Repairing
Location: National City, CA
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South Bay Sand Blasting And Tank Cleaning Inc is a corporation located at 326 W 30th St in National City, California that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in January, 2021.
The company has reported itself as a male owned business, and employed at least 185 people during the applicable loan loan period.
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PPP Loan Information
Loan #7022228305
Loan Size:
Jobs Retained:
185Loan Approved:
2021-01-27Loan Status:
Ongoing LoanLender:
First BankSouth Bay Sand Blasting And Tank Cleaning Inc in National City, CA received a Paycheck Protection Loan of $2M through First Bank, which was approved in January, 2021.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, South Bay Sand Blasting And Tank Cleaning Inc's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 185 jobs retained, this equals an estimated average yearly compensation of $51,892 per employee1
Reported PPP Proceed Usage:
On the PPP application, South Bay Sand Blasting And Tank Cleaning Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,000,000
Business Information - South Bay Sand Blasting And Tank Cleaning Inc in National City, CA
326 W 30th St
National City, CA 91950
Business Industry:
Ship Building and Repairing
NAICS code 336611
Business Owner Demographics
Race: Unreported
Ethnicity: Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: Y
Rural / Urban: Urban
Similar Companies near National City
In the National City area, 20 businesses in the "Ship Building and Repairing" industry received a PPP loan. These local businesses reported an average of 45 employees (compared to this company's 185) and received an average PPP loan of $476,220 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
South Bay Broiler Repair, Inc
National City, CA
Pacific Maritime Outfitters Inc
National City, CA
Sitta Paige And Associates Inc
National City, CA
Chae And Nam Universe Inc
National City, CA
Sitta Paige & Associates Inc
National City, CA
Professional Tank Cleaning CA Inc
National City, CA
Ammex Tank International
National City, CA
South Bay Boiler Repair Inc
National City, CA
Southern California Insulation
National City, CA
Industry PPP Comparison Statistics
Nationwide, 1,238 businesses in the "Ship Building and Repairing" industry received a total of $404.62M 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 26 employees, 86% lower than South Bay Sand Blasting And Tank Cleaning Inc's reported 185 employees, and received an average PPP loan of $326,831, 84% lower than this company's loan of $2M.
South Bay Sand Blasting And Tank Cleaning, Inc
Entity: Corporation
Industry: All Other Professional, Scientific, and Technical Services
Location: National City, CA
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South Bay Sand Blasting And Tank Cleaning, Inc is a corporation located at 326 W. 30th St in National City, California that received a Coronavirus-related PPP loan from the SBA of $2,866,645.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 220 people during the applicable loan loan period.
$
PPP Loan Information
Loan #7871647202
Loan Size:
Jobs Retained:
220Loan Approved:
2020-04-28Loan Status:
Paid in Full or ForgivenLender:
First BankSouth Bay Sand Blasting And Tank Cleaning, Inc in National City, CA received a Paycheck Protection Loan of $2.87M through First Bank, 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 July, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, South Bay Sand Blasting And Tank Cleaning, Inc's 2019 payroll expenses are estimated to be at least $13.76M.
Based on their reported 220 jobs retained, this equals an estimated average yearly compensation of $62,545 per employee1
Reported PPP Proceed Usage:
On the PPP application, South Bay Sand Blasting And Tank Cleaning, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,866,645
Business Information - South Bay Sand Blasting And Tank Cleaning, Inc in National City, CA
326 W. 30th St
National City, CA 91950
Business Industry:
All Other Professional, Scientific, and Technical Services
NAICS code 541990
Business Owner Demographics
Race: Unreported
Ethnicity: Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: Y
Rural / Urban: Urban
Similar Companies near National City
In the National City area, 7 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a PPP loan. These local businesses reported an average of 35 employees (compared to this company's 220) and received an average PPP loan of $450,030 (compared to this company's $2.87M).
Similar Nearby Businesses Who Received PPP Funding:
Alfrerdo Haro Lopez
National City, CA
German Silvas
National City, CA
Clarence O Reyes
National City, CA
Springboard Cdfi
National City, CA
Macias Immigration Service Inc
National City, CA
Multiware Software
National City, CA
Industry PPP Comparison Statistics
Nationwide, 128,302 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a total of $7.37B 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 5 employees, 98% lower than South Bay Sand Blasting And Tank Cleaning, Inc's reported 220 employees, and received an average PPP loan of $57,481, 98% lower than this company's loan of $2.87M.
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. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. 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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