PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Spokane Industries Inc, Spokane Valley, WA

ALERT: There are 2 PPP loans for a total of $4.37M in our database for businesses with the name "Spokane Industries Inc" in Spokane Valley, WA. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Spokane Industries Inc
WA

Spokane Industries Inc

Entity: Corporation

Industry: Steel Foundries (except Investment)

Location: Spokane Valley, WA

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Spokane Industries Inc is a corporation located at 3808 N Sullivan Rd Bldg 1sip in Spokane Valley, Washington that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in February, 2021.

The company has reported itself as a male owned business, and employed at least 135 people during the applicable loan loan period.

$ PPP Loan Information
Loan #8604208402

Loan Size:

$2M

Jobs Retained:

135

Loan Approved:

2021-02-13

Loan Status:

Ongoing Loan

Lender:

Umpqua Bank

Spokane Industries Inc in Spokane Valley, WA received a Paycheck Protection Loan of $2M through Umpqua Bank, which was approved in February, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Spokane Industries Inc's 2019 payroll expenses are estimated to be at least $9.6M.

Based on their reported 135 jobs retained, this equals an estimated average yearly compensation of $71,111 per employee1

Reported PPP Proceed Usage:

On the PPP application, Spokane Industries Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,999,998
  • Utilities: $1
Because the loan received by Spokane Industries 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 - Spokane Industries Inc in Spokane Valley, WA

Spokane Industries Inc
3808 N Sullivan Rd Bldg 1sip
Spokane Valley, WA 99216

Business Industry:
Steel Foundries (except Investment)
NAICS code 331513

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Spokane County, WA — SBA Office 1094 — Congressional District: WA-05

Industry PPP Comparison Statistics

Nationwide, 211 businesses in the "Steel Foundries (except Investment)" industry received a total of $109.42M 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 41 employees, 70% lower than Spokane Industries Inc's reported 135 employees, and received an average PPP loan of $518,597, 74% lower than this company's loan of $2M.

SBA PPP loan data, payroll data, and salaries for Spokane Industries, Inc
WA

Spokane Industries, Inc

Entity: Corporation

Industry: Mining Machinery and Equipment Manufacturing

Location: Spokane Valley, WA

Search All PPP Data

Spokane Industries, Inc is a corporation located at 3808 Sullivan Rd #1 Sip in Spokane Valley, Washington that received a Coronavirus-related PPP loan from the SBA of $2,371,500.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 160 people during the applicable loan loan period.

$ PPP Loan Information
Loan #1887357108

Loan Size:

$2.37M

Jobs Retained:

160

Loan Approved:

2020-04-10

Loan Status:

Ongoing Loan

Lender:

Umpqua Bank

Spokane Industries, Inc in Spokane Valley, WA received a Paycheck Protection Loan of $2.37M through Umpqua Bank, which was approved in April, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Spokane Industries, Inc's 2019 payroll expenses are estimated to be at least $11.38M.

Based on their reported 160 jobs retained, this equals an estimated average yearly compensation of $71,145 per employee1

Reported PPP Proceed Usage:

On the PPP application, Spokane Industries, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $2,371,500
Because the loan received by Spokane Industries, 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 - Spokane Industries, Inc in Spokane Valley, WA

Spokane Industries, Inc
3808 Sullivan Rd #1 Sip
Spokane Valley, WA 99216

Business Industry:
Mining Machinery and Equipment Manufacturing
NAICS code 333131

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Spokane County, WA — SBA Office 1094 — Congressional District: WA-05

Industry PPP Comparison Statistics

Nationwide, 331 businesses in the "Mining Machinery and Equipment Manufacturing" industry received a total of $95.94M 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 23 employees, 86% lower than Spokane Industries, Inc's reported 160 employees, and received an average PPP loan of $289,858, 88% lower than this company's loan of $2.37M.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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/spokane-industries-inc-spokane-valley-wa