PPP Loan Data — West Coast Firestopping, Inc, Orange, CA
West Coast Firestopping, Inc is a subchapter s corporation located at 1132 W Trenton Ave in Orange, California that received a Coronavirus-related PPP loan from the SBA of $1,561,023.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 144 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:American Business Bank
West Coast Firestopping, Inc in Orange, CA received a Paycheck Protection Loan of $1.56M through American Business 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 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, West Coast Firestopping, Inc's 2019 payroll expenses are estimated to be at least $7.49M.
Based on their reported 144 jobs retained, this equals an estimated average yearly compensation of $52,034 per employee1
Reported PPP Proceed Usage:
On the PPP application, West Coast Firestopping, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,561,023
Business Information - West Coast Firestopping, Inc in Orange, CA
1132 W Trenton Ave
Orange, CA 92867
Fabricated Structural Metal Manufacturing
NAICS code 332312
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, 5,157 businesses in the "Fabricated Structural Metal Manufacturing" industry received a total of $1.41B 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 24 employees, 83% lower than West Coast Firestopping, Inc's reported 144 employees, and received an average PPP loan of $273,385, 82% lower than this company's loan of $1.56M.
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Footnotes & Information
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