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PPP Loan Data — Spectrum Paint Company, Inc., Tulsa, OK

SBA PPP loan data, payroll data, and salaries for Spectrum Paint Company, Inc.
OK

Spectrum Paint Company, Inc.

Entity: Corporation

Industry: Paint and Wallpaper Stores

Location: Tulsa, OK

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Spectrum Paint Company, Inc. is a corporation located at 15247 Skelly Dr in Tulsa, Oklahoma that received a Coronavirus-related PPP loan from the SBA of $2,985,000.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least 309 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$2.99M

Jobs Retained:

309

Loan Approved:

2020-04-07

Lender:

INTRUST BANK, NATIONAL ASSOCIATION

Spectrum Paint Company, Inc. received a Paycheck Protection Loan of $2.99M through INTRUST BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Spectrum Paint Company, Inc.'s total 2019 payroll expenses were approximately $14.33M in order to qualify for the PPP loan amount received.

Based on their reported 309 jobs retained, this equals an estimated average yearly compensation of $46,369 per employee1.

Because the loan received by Spectrum Paint Company, Inc. is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Spectrum Paint Company, Inc. in Tulsa, OK

Spectrum Paint Company, Inc.
15247 Skelly Dr
Tulsa, OK 74116

Business Industry

Paint and Wallpaper Stores (NAICS code 444120)

Business Owner Demographics

Race / Ethnicity: WHITE

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: OK-01

Similar Companies near Tulsa

In the Tulsa area, 2 businesses in the "Paint and Wallpaper Stores" industry received a PPP loan. These local businesses reported an average of 234 employees (compared to this company's 309) and received an average PPP loan of $2,259,500 (compared to this company's $2.99M).

Similar Nearby Businesses Who Received PPP Funding:

Spectrum Paint East, LLC
Tulsa, OK

$1.53M PPP Loan

Industry PPP Comparison Statistics

Nationwide, 1,154 businesses in the "Paint and Wallpaper Stores" industry received a total of $88,628,282.00 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 8 employees, 97% lower than Spectrum Paint Company, Inc.'s reported 309 employees, and received an average PPP loan of $76,801, 97% lower than this company's loan of $2.99M.

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.

Search FederalPay's Full PPP Loan Database

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/spectrum-paint-company-inc-tulsa-ok