PPP Loan Data — Wayman Fire Protection Inc, Wilmington, DE
Wayman Fire Protection Inc is a subchapter s corporation located at 3540 Old Capitol Trail in Wilmington, Delaware that received a Coronavirus-related PPP loan from the SBA of $2,232,142.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Manufacturers and Traders Trust Company
Wayman Fire Protection Inc in Wilmington, DE received a Paycheck Protection Loan of $2.23M through Manufacturers and Traders Trust Company, which was approved in April, 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, Wayman Fire Protection Inc's 2019 payroll expenses are estimated to be at least $10.71M.
Based on their reported 124 jobs retained, this equals an estimated average yearly compensation of $86,406 per employee1
Reported PPP Proceed Usage:
On the PPP application, Wayman Fire Protection Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,052,142
- Utilities: $12,000
- Mortgage Interest: $8,000
- Rent: $15,000
- Health Care: $140,000
- Debt Interest: $5,000
Business Information - Wayman Fire Protection Inc in Wilmington, DE
3540 Old Capitol Trail
Wilmington, DE 19808
All Other Specialty Trade Contractors
NAICS code 238990
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Wilmington
In the Wilmington area, 23 businesses in the "All Other Specialty Trade Contractors" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 124) and received an average PPP loan of $126,591 (compared to this company's $2.23M).
Similar Nearby Businesses Who Received PPP Funding:
Russo Bros. Inc
JPR Enhancing Living Spaces LLC
First State Glass LLC
Victor Pools Inc
Jerome David Harrison, Inc
Top Notch LLC
Industry PPP Comparison Statistics
Nationwide, 93,400 businesses in the "All Other Specialty Trade Contractors" industry received a total of $8.04B 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, 94% lower than Wayman Fire Protection Inc's reported 124 employees, and received an average PPP loan of $86,076, 96% lower than this company's loan of $2.23M.
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Footnotes & Information
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