PPP Loan Data — Stone's Metal Shop LLC, Gardena, CA
Stone's Metal Shop LLC
Entity: Limited Liability Company (LLC)
Location: Gardena, CATweet This • Search All PPP Data
Stone's Metal Shop LLC is a limited liability company (LLC) located at 17812 S Hobart Blvd in Gardena, California that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
Stone's Metal Shop LLC in Gardena, CA received a Paycheck Protection Loan of $25,000 through Bank of America, National Association, which was approved in May, 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, Stone's Metal Shop LLC's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Stone's Metal Shop LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Stone's Metal Shop LLC in Gardena, CA
17812 S Hobart Blvd
Gardena, CA 90248
All Other Miscellaneous Store Retailers (except Tobacco Stores)
NAICS code 453998
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Gardena
In the Gardena area, 100 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 5) and received an average PPP loan of $52,252 (compared to this company's $25,000).
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Industry PPP Comparison Statistics
Nationwide, 152,436 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a total of $5.23B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 4 employees, 20% lower than Stone's Metal Shop LLC's reported 5 employees, and received an average PPP loan of $34,329, 37% higher than this company's loan of $25,000.
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