PPP Loan Data — Washington Ornamental Iron Works, Inc., Gardena, CA
Washington Ornamental Iron Works, Inc. is a corporation located at 17926 S. Broadway in Gardena, California that received a Coronavirus-related PPP loan from the SBA of $5,879,800.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 223 people during the applicable loan loan period.
$ PPP Loan Information
Lender:AMERICAN BUSINESS BANK
Washington Ornamental Iron Works, Inc. received a Paycheck Protection Loan of $5.88M through AMERICAN BUSINESS BANK, which was approved in April, 2020.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 223 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 282.
Based on standard PPP eligibility rules, Washington Ornamental Iron Works, Inc.'s total 2019 payroll expenses were approximately $28.22M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 223 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - Washington Ornamental Iron Works, Inc. in Gardena, CA
17926 S. Broadway
Gardena, CA 90248
All Other Specialty Trade Contractors (NAICS code 238990)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional District: CA-44
Similar Companies near Gardena
In the Gardena area, 10 businesses in the "All Other Specialty Trade Contractors" industry received a PPP loan. These local businesses reported an average of 51 employees (compared to this company's 223) and received an average PPP loan of $925,894 (compared to this company's $5.88M).
Similar Nearby Businesses Who Received PPP Funding:
Briles Aerospace, Inc.
Deckrite Waterproofing Co. Inc.
Atlas Pool Decking & Platform
La Pinata Party Rentals Inc
Asmar Studio, Inc.
Schoellerman Pace, 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, 96% lower than Washington Ornamental Iron Works, Inc.'s reported 223 employees, and received an average PPP loan of $113,959, 98% lower than this company's loan of $5.88M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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