PPP Loan Data — Spectra Company, Pomona, CA
Spectra Company is a corporation located at 2510 Supply St in Pomona, California that received a Coronavirus-related PPP loan from the SBA of $1,771,975.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 132 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of the West
Spectra Company in Pomona, CA received a Paycheck Protection Loan of $1.77M through Bank of the West, 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, Spectra Company's 2019 payroll expenses are estimated to be at least $8.51M.
Based on their reported 132 jobs retained, this equals an estimated average yearly compensation of $64,435 per employee1
Reported PPP Proceed Usage:
On the PPP application, Spectra Company reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,771,975
Business Information - Spectra Company in Pomona, CA
2510 Supply St
Pomona, CA 91767
All Other Specialty Trade Contractors
NAICS code 238990
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
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 Pomona
In the Pomona area, 22 businesses in the "All Other Specialty Trade Contractors" industry received a PPP loan. These local businesses reported an average of 13 employees (compared to this company's 132) and received an average PPP loan of $175,220 (compared to this company's $1.77M).
Similar Nearby Businesses Who Received PPP Funding:
Alpine Innovations Inc
ATR Technologies Inc
Synthetic Grass Superstore, Inc
Road Works Inc
D C Electric Inc
Greg Lizotte Designs
Phillips Ranch, CA
Anthony Torres Demolition Corp
Industry PPP Comparison Statistics
Nationwide, 93,400 businesses in the "All Other Specialty Trade Contractors" industry received a total of $8.04B 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, 94% lower than Spectra Company's reported 132 employees, and received an average PPP loan of $86,076, 95% lower than this company's loan of $1.77M.
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Footnotes & Information
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