PPP Loan Data — Wavemg Corperation, Auburn, WA
Wavemg Corperation is a corporation located at 22 5th St Nw in Auburn, Washington that received a Coronavirus-related PPP loan from the SBA of $24,940.00 in January, 2021.
The company has reported itself as an Asian male owned business, and employed at least five people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Itria Ventures LLC
Wavemg Corperation in Auburn, WA received a Paycheck Protection Loan of $24,940 through Itria Ventures LLC, which was approved in January, 2021.
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, Wavemg Corperation's 2019 payroll expenses are estimated to be at least $119,712.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $23,942 per employee1
Reported PPP Proceed Usage:
On the PPP application, Wavemg Corperation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,937
- Utilities: $1
Business Information - Wavemg Corperation in Auburn, WA
22 5th St Nw
Auburn, WA 98001
Musical Instrument and Supplies Stores
NAICS code 451140
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 4,420 businesses in the "Musical Instrument and Supplies Stores" industry received a total of $235.82M 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 8 employees, 60% higher than Wavemg Corperation's reported 5 employees, and received an average PPP loan of $53,352, 114% higher than this company's loan of $24,940.
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Footnotes & Information
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