PPP Loan Data — Watts' Welding Shop, LLC, Jersey Shore, PA
Watts' Welding Shop, LLC
Entity: Subchapter S Corporation
Location: Jersey Shore, PATweet This • Search All PPP Data
Watts' Welding Shop, LLC is a subchapter s corporation located at 11282 West Route 973 Highway in Jersey Shore, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $45,920.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Celtic Bank Corporation
Watts' Welding Shop, LLC in Jersey Shore, PA received a Paycheck Protection Loan of $45,920 through Celtic Bank Corporation, 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, Watts' Welding Shop, LLC's 2019 payroll expenses are estimated to be at least $220,416.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $44,083 per employee1
Reported PPP Proceed Usage:
On the PPP application, Watts' Welding Shop, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $34,440
- Utilities: $11,480
Business Information - Watts' Welding Shop, LLC in Jersey Shore, PA
11282 West Route 973 Highway
Jersey Shore, PA 17740
New Single-Family Housing Construction (except For-Sale Builders)
NAICS code 236115
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Similar Companies near Jersey Shore
In the Jersey Shore area, 3 businesses in the "New Single-Family Housing Construction (except For-Sale Builders)" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 5) and received an average PPP loan of $23,371 (compared to this company's $45,920).
Similar Nearby Businesses Who Received PPP Funding:
Feerrar Builders Inc
Jersey Shore, PA
Jersey Shore, PA
Industry PPP Comparison Statistics
Nationwide, 127,156 businesses in the "New Single-Family Housing Construction (except For-Sale Builders)" industry received a total of $5.75B 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 5 employees, the same amount reported by Watts' Welding Shop, LLC and received an average PPP loan of $45,182, 2% lower than this company's loan of $45,920.
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Footnotes & Information
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