PPP Loan Data — Toolworks, San Francisco, CA
Toolworks is a non-profit organization located at 25 Kearny St #400 in San Francisco, California that received a Coronavirus-related PPP loan from the SBA of $2,768,680.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
Toolworks in San Francisco, CA received a Paycheck Protection Loan of $2.77M 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, Toolworks' 2019 payroll expenses are estimated to be at least $13.29M.
Based on their reported 415 jobs retained, this equals an estimated average yearly compensation of $32,023 per employee1
Reported PPP Proceed Usage:
On the PPP application, Toolworks reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,314,764
- Rent: $55,448
- Health Care: $398,468
Business Information - Toolworks in San Francisco, CA
25 Kearny St #400
San Francisco, CA 94108
Vocational Rehabilitation Services
NAICS code 624310
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 3,932 businesses in the "Vocational Rehabilitation Services" industry received a total of $878.96M 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 32 employees, 92% lower than Toolworks' reported 415 employees, and received an average PPP loan of $223,541, 92% lower than this company's loan of $2.77M.
FederalPay's PPP Information Policy
Footnotes & Information
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