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PPP Loan Data — Spectrum Laboratory Products Inc,
Gardena, CA
Spectrum Laboratory Products Inc
Entity: Corporation
Industry: Other Chemical and Allied Products Merchant Wholesalers
Location: Gardena, CA
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Spectrum Laboratory Products Inc is a corporation located at 14422 S San Pedro St in Gardena, California that received a Coronavirus-related PPP loan from the SBA of $3,068,145.00 in May, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
234Loan Approved:
2020-05-01Lender:
BANK OF AMERICA, NATIONAL ASSOCIATIONSpectrum Laboratory Products Inc in Gardena, CA received a Paycheck Protection Loan of $3.07M through BANK OF AMERICA, NATIONAL ASSOCIATION, which was approved in May, 2020.
Based on standard PPP eligibility rules, Spectrum Laboratory Products Inc's total 2019 payroll expenses were approximately $14.73M in order to qualify for the PPP loan amount received.
Based on their reported 234 jobs retained, this equals an estimated average yearly compensation of $62,936 per employee1.
Business Information - Spectrum Laboratory Products Inc in Gardena, CA
14422 S San Pedro St
Gardena, CA 90248
Business Industry
Other Chemical and Allied Products Merchant Wholesalers (NAICS code 424690)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: CA-44Similar Companies near Gardena
In the Gardena area, 3 businesses in the "Other Chemical and Allied Products Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 84 employees (compared to this company's 234) and received an average PPP loan of $1,093,757 (compared to this company's $3.07M).
Similar Nearby Businesses Who Received PPP Funding:
Durachem Group, Inc.
Gardena, CA
AMS-Stp Inc
Gardena, CA
Industry PPP Comparison Statistics
Nationwide, 2,140 businesses in the "Other Chemical and Allied Products Merchant Wholesalers" industry received a total of $406,941,257.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 12 employees, 95% lower than Spectrum Laboratory Products Inc's reported 234 employees, and received an average PPP loan of $190,159, 94% lower than this company's loan of $3.07M.
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, and is published unmodified, as provided by the SBA.
Footnotes & Information
1. 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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