PPP Loan Data — Spaldings Inc, Spokane Valley, WA
Spaldings Inc is a corporation located at 10708 E Knox Ave in Spokane Valley, Washington that received a Coronavirus-related PPP loan from the SBA of $1,843,700.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Washington Trust Bank
Spaldings Inc in Spokane Valley, WA received a Paycheck Protection Loan of $1.84M through Washington Trust 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 January, 2021.
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, Spaldings Inc's 2019 payroll expenses are estimated to be at least $8.85M.
Based on their reported 197 jobs retained, this equals an estimated average yearly compensation of $44,923 per employee1
Reported PPP Proceed Usage:
On the PPP application, Spaldings Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,843,700
Business Information - Spaldings Inc in Spokane Valley, WA
10708 E Knox Ave
Spokane Valley, WA 99206
Automotive Parts and Accessories Stores
NAICS code 441310
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Spokane Valley
In the Spokane Valley area, 4 businesses in the "Automotive Parts and Accessories Stores" industry received a PPP loan. These local businesses reported an average of 55 employees (compared to this company's 197) and received an average PPP loan of $504,261 (compared to this company's $1.84M).
Similar Nearby Businesses Who Received PPP Funding:
Toby's Battery & Auto Electric LLC
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Industry PPP Comparison Statistics
Nationwide, 17,983 businesses in the "Automotive Parts and Accessories Stores" industry received a total of $1.2B 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 8 employees, 96% lower than Spaldings Inc's reported 197 employees, and received an average PPP loan of $66,454, 96% lower than this company's loan of $1.84M.
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Footnotes & Information
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