PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Watkins Manufacturing Inc, Odessa, TX

ALERT: There are 2 PPP loans for a total of $83,001 in our database for businesses with the name "Watkins Manufacturing Inc" in Odessa, TX. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Watkins Manufacturing Inc
TX

Watkins Manufacturing Inc

Entity: Corporation

Industry: All Other Miscellaneous Fabricated Metal Product Manufacturing

Location: Odessa, TX

Search All PPP Data

Watkins Manufacturing Inc is a corporation located at 200 Reed Ave in Odessa, Texas that received a Coronavirus-related PPP loan from the SBA of $37,054.00 in January, 2021.

The company has reported itself as a male owned business, and employed at least four people during the applicable loan loan period.

$ PPP Loan Information
Loan #5113798308

Loan Size:

$37,054

Jobs Retained:

4

Loan Approved:

2021-01-25

Loan Status:

Ongoing Loan

Lender:

Southwest Heritage CU

Watkins Manufacturing Inc in Odessa, TX received a Paycheck Protection Loan of $37,054 through Southwest Heritage CU, which was approved in January, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Watkins Manufacturing Inc's 2019 payroll expenses are estimated to be at least $177,859.

Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $44,465 per employee1

Reported PPP Proceed Usage:

On the PPP application, Watkins Manufacturing Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $37,053

Business Information - Watkins Manufacturing Inc in Odessa, TX

Watkins Manufacturing Inc
200 Reed Ave
Odessa, TX 79761

Business Owner Demographics

Race: Unreported

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Ector County, TX — SBA Office 0678 — Congressional District: TX-11

Similar Companies near Odessa

In the Odessa area, 6 businesses in the "All Other Miscellaneous Fabricated Metal Product Manufacturing" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 4) and received an average PPP loan of $72,068 (compared to this company's $37,054).

Industry PPP Comparison Statistics

Nationwide, 8,434 businesses in the "All Other Miscellaneous Fabricated Metal Product Manufacturing" industry received a total of $1.95B 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 20 employees, 400% higher than Watkins Manufacturing Inc's reported 4 employees, and received an average PPP loan of $231,549, 525% higher than this company's loan of $37,054.

SBA PPP loan data, payroll data, and salaries for Watkins Manufacturing Inc
TX

Watkins Manufacturing Inc

Entity: Corporation

Industry: Motor Vehicle Body Manufacturing

Location: Odessa, TX

Search All PPP Data

Watkins Manufacturing Inc is a corporation located at Po Box 12767 in Odessa, Texas that received a Coronavirus-related PPP loan from the SBA of $45,947.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least six people during the applicable loan loan period.

$ PPP Loan Information
Loan #8014987210

Loan Size:

$45,947

Jobs Retained:

6

Loan Approved:

2020-04-28

Loan Status:

Paid in Full or Forgiven

Lender:

Southwest Heritage CU

Watkins Manufacturing Inc in Odessa, TX received a Paycheck Protection Loan of $45,947 through Southwest Heritage CU, which was approved in April, 2020.

This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in April, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Watkins Manufacturing Inc's 2019 payroll expenses are estimated to be at least $220,546.

Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $36,758 per employee1

Reported PPP Proceed Usage:

On the PPP application, Watkins Manufacturing Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $45,947

Business Information - Watkins Manufacturing Inc in Odessa, TX

Watkins Manufacturing Inc
Po Box 12767
Odessa, TX 79768

Business Industry:
Motor Vehicle Body Manufacturing
NAICS code 336211

Business Owner Demographics

Race: Unreported

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Ector County, TX — SBA Office 0678 — Congressional District: TX-11

Industry PPP Comparison Statistics

Nationwide, 835 businesses in the "Motor Vehicle Body Manufacturing" industry received a total of $248.12M 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 28 employees, 367% higher than Watkins Manufacturing Inc's reported 6 employees, and received an average PPP loan of $297,150, 547% higher than this company's loan of $45,947.

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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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.


Have FederalPay.org's open data tools been valuable? Consider donating!

** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/watkins-manufacturing-inc-odessa-tx