PPP Loan Data — The New Generation Engineering Constrution Inc., Torrance, CA
The New Generation Engineering Constrution Inc. is a subchapter s corporation located at 22815 Frampton Avenue in Torrance, California that received a Coronavirus-related PPP loan from the SBA of $2,614,700.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 325 people during the applicable loan loan period.
$ PPP Loan Information
Lender:CACHE VALLEY BANK
The New Generation Engineering Constrution Inc. in Torrance, CA received a Paycheck Protection Loan of $2.61M through CACHE VALLEY BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, The New Generation Engineering Constrution Inc.'s total 2019 payroll expenses were approximately $12.55M in order to qualify for the PPP loan amount received.
Based on their reported 325 jobs retained, this equals an estimated average yearly compensation of $38,617 per employee1.
Business Information - The New Generation Engineering Constrution Inc. in Torrance, CA
22815 Frampton Avenue
Torrance, CA 90501
All Other Specialty Trade Contractors (NAICS code 238990)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: UnreportedCongressional District: CA-43
Similar Companies near Torrance
In the Torrance area, 12 businesses in the "All Other Specialty Trade Contractors" industry received a PPP loan. These local businesses reported an average of 34 employees (compared to this company's 325) and received an average PPP loan of $312,254 (compared to this company's $2.61M).
Similar Nearby Businesses Who Received PPP Funding:
D & G Paving, Inc.
Matrix Air Balance Inc
Genesis Building & Consulting, Inc.
Richardson Thomas Construction Inc.
Zetcor USA Inc
Industry PPP Comparison Statistics
Nationwide, 44,474 businesses in the "All Other Specialty Trade Contractors" industry received a total of $5,068,221,395.00 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 9 employees, 97% lower than The New Generation Engineering Constrution Inc.'s reported 325 employees, and received an average PPP loan of $113,959, 96% lower than this company's loan of $2.61M.
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, 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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