PPP Loan Data — West Central, Inc, Canon City, CO
West Central, Inc
Location: Canon City, COTweet This • Search All PPP Data
West Central, Inc is a corporation located at 3225 Independence Road in Canon City, Colorado that received a Coronavirus-related PPP loan from the SBA of $1,970,357.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
West Central, Inc in Canon City, CO received a Paycheck Protection Loan of $1.97M through Glacier Bank, 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 March, 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, West Central, Inc's 2019 payroll expenses are estimated to be at least $9.46M.
Based on their reported 132 jobs retained, this equals an estimated average yearly compensation of $71,649 per employee1
Reported PPP Proceed Usage:
On the PPP application, West Central, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,970,357
Business Information - West Central, Inc in Canon City, CO
3225 Independence Road
Canon City, CO 81212
Outpatient Mental Health and Substance Abuse Centers
NAICS code 621420
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Canon City
In the Canon City area, 4 businesses in the "Outpatient Mental Health and Substance Abuse Centers" industry received a PPP loan. These local businesses reported an average of 44 employees (compared to this company's 132) and received an average PPP loan of $625,041 (compared to this company's $1.97M).
Similar Nearby Businesses Who Received PPP Funding:
Canon City, CO
Rocky Mountain Behavioral Health, Inc
Canon City, CO
Gateway To Success PC
Canon City, CO
Industry PPP Comparison Statistics
Nationwide, 11,274 businesses in the "Outpatient Mental Health and Substance Abuse Centers" industry received a total of $1.83B 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 18 employees, 86% lower than West Central, Inc's reported 132 employees, and received an average PPP loan of $162,367, 92% lower than this company's loan of $1.97M.
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Footnotes & Information
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