PPP Loan Data — TFC Manufacturing Inc, Lakewood, CA
TFC Manufacturing Inc is a corporation located at 4001 Watson Plaza Dr in Lakewood, California that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in May, 2020.
The company has reported itself as a White male owned business, and employed at least 202 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
TFC Manufacturing Inc in Lakewood, CA received a Paycheck Protection Loan of $2M through JPMorgan Chase Bank, 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, TFC Manufacturing Inc's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 202 jobs retained, this equals an estimated average yearly compensation of $47,525 per employee1
Reported PPP Proceed Usage:
On the PPP application, TFC Manufacturing Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,000,000
Business Information - TFC Manufacturing Inc in Lakewood, CA
4001 Watson Plaza Dr
Lakewood, CA 90712
Sheet Metal Work Manufacturing
NAICS code 332322
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 4,304 businesses in the "Sheet Metal Work Manufacturing" industry received a total of $1.16B 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, 89% lower than TFC Manufacturing Inc's reported 202 employees, and received an average PPP loan of $268,414, 87% lower than this company's loan of $2M.
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Footnotes & Information
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