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PPP Loan Data — Spectrum Paint Company, Inc.,
Tulsa, 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:
Jobs Retained:
309Loan Approved:
2020-04-07Lender:
INTRUST BANK, NATIONAL ASSOCIATIONSpectrum 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.
Business Information - Spectrum Paint Company, Inc. in Tulsa, OK
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-01Similar 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
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.
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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