PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — West Coast Industries Inc, San Francisco, CA

ALERT: There are 2 PPP loans for a total of $3.03M in our database for businesses with the name "West Coast Industries Inc" in San Francisco, CA. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for West Coast Industries Inc
CA

West Coast Industries Inc

Entity: Corporation

Industry: Institutional Furniture Manufacturing

Location: San Francisco, CA

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West Coast Industries Inc is a corporation located at 101a Clay St # Pmb106 in San Francisco, California that received a Coronavirus-related PPP loan from the SBA of $1,233,525.00 in January, 2021.

$ PPP Loan Information
Loan #4060618301

Loan Size:

$1.23M

Jobs Retained:

98

Loan Approved:

2021-01-22

Loan Status:

Ongoing Loan

Lender:

Bank of Marin

West Coast Industries Inc in San Francisco, CA received a Paycheck Protection Loan of $1.23M through Bank of Marin, which was approved in January, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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 Industries Inc's 2019 payroll expenses are estimated to be at least $5.92M.

Based on their reported 98 jobs retained, this equals an estimated average yearly compensation of $60,418 per employee1

Reported PPP Proceed Usage:

On the PPP application, West Coast Industries Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,233,521
  • Utilities: $1

Business Information - West Coast Industries Inc in San Francisco, CA

West Coast Industries Inc
101a Clay St # Pmb106
San Francisco, CA 94111

Business Industry:
Institutional Furniture Manufacturing
NAICS code 337127

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

San Francisco County, CA — SBA Office 0912 — Congressional District: CA-12

Industry PPP Comparison Statistics

Nationwide, 1,030 businesses in the "Institutional Furniture Manufacturing" industry received a total of $309.33M 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 30 employees, 69% lower than West Coast Industries Inc's reported 98 employees, and received an average PPP loan of $300,316, 76% lower than this company's loan of $1.23M.

SBA PPP loan data, payroll data, and salaries for West Coast Industries, Inc
CA

West Coast Industries, Inc

Entity: Corporation

Industry: Other Miscellaneous Durable Goods Merchant Wholesalers

Location: San Francisco, CA

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West Coast Industries, Inc is a corporation located at 750 Battery St in San Francisco, California that received a Coronavirus-related PPP loan from the SBA of $1,800,698.00 in April, 2020.

$ PPP Loan Information
Loan #1730907207

Loan Size:

$1.8M

Jobs Retained:

109

Loan Approved:

2020-04-15

Loan Status:

Ongoing Loan

Lender:

Bank of Marin

West Coast Industries, Inc in San Francisco, CA received a Paycheck Protection Loan of $1.8M through Bank of Marin, which was approved in April, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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 Industries, Inc's 2019 payroll expenses are estimated to be at least $8.64M.

Based on their reported 109 jobs retained, this equals an estimated average yearly compensation of $79,297 per employee1

Reported PPP Proceed Usage:

On the PPP application, West Coast Industries, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,800,698

Business Information - West Coast Industries, Inc in San Francisco, CA

West Coast Industries, Inc
750 Battery St
San Francisco, CA 94111

Business Industry:
Other Miscellaneous Durable Goods Merchant Wholesalers
NAICS code 423990

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

San Francisco County, CA — SBA Office 0912 — Congressional District: CA-12

Similar Companies near San Francisco

In the San Francisco area, 11 businesses in the "Other Miscellaneous Durable Goods Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 13 employees (compared to this company's 109) and received an average PPP loan of $192,613 (compared to this company's $1.8M).

Industry PPP Comparison Statistics

Nationwide, 26,568 businesses in the "Other Miscellaneous Durable Goods Merchant Wholesalers" industry received a total of $1.98B 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 7 employees, 94% lower than West Coast Industries, Inc's reported 109 employees, and received an average PPP loan of $74,615, 96% lower than this company's loan of $1.8M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/west-coast-industries-inc-san-francisco-ca