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-Tech Mechanical Inc, Montclair, CA

ALERT: There are 2 PPP loans for a total of $441,530 in our database for businesses with the name "West-Tech Mechanical Inc" in Montclair, 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-Tech Mechanical Inc
CA

West-Tech Mechanical Inc

Entity: Corporation

Industry: Plumbing, Heating, and Air-Conditioning Contractors

Location: Montclair, CA

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West-Tech Mechanical Inc is a corporation located at 5589 Brooks St in Montclair, California that received a Coronavirus-related PPP loan from the SBA of $241,030.00 in February, 2021.

The company has reported itself as a White male owned business, and employed at least thirteen people during the applicable loan loan period.

$ PPP Loan Information
Loan #4283398500

Loan Size:

$241,030

Jobs Retained:

13

Loan Approved:

2021-02-25

Loan Status:

Ongoing Loan

Lender:

Sunwest Bank

West-Tech Mechanical Inc in Montclair, CA received a Paycheck Protection Loan of $241,030 through Sunwest Bank, which was approved in February, 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-Tech Mechanical Inc's 2019 payroll expenses are estimated to be at least $1.16M.

Based on their reported 13 jobs retained, this equals an estimated average yearly compensation of $88,996 per employee1

Reported PPP Proceed Usage:

On the PPP application, West-Tech Mechanical Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $241,028
  • Utilities: $1

Business Information - West-Tech Mechanical Inc in Montclair, CA

West-Tech Mechanical Inc
5589 Brooks St
Montclair, CA 91763

Business Industry:
Plumbing, Heating, and Air-Conditioning Contractors
NAICS code 238220

Business Owner Demographics

Race: White

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: N

Rural / Urban: Urban

San Bernardino County, CA — SBA Office 0920 — Congressional District: CA-35

Similar Companies near Montclair

In the Montclair area, 42 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a PPP loan. These local businesses reported an average of 26 employees (compared to this company's 13) and received an average PPP loan of $233,797 (compared to this company's $241,030).

Industry PPP Comparison Statistics

Nationwide, 92,266 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a total of $12.59B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.

PPP recipients in this industry report an average of 11 employees, 15% lower than West-Tech Mechanical Inc's reported 13 employees, and received an average PPP loan of $136,477, 43% lower than this company's loan of $241,030.

SBA PPP loan data, payroll data, and salaries for West-Tech Mechanical, Inc
CA

West-Tech Mechanical, Inc

Entity: Corporation

Industry: Plumbing, Heating, and Air-Conditioning Contractors

Location: Montclair, CA

Search All PPP Data

West-Tech Mechanical, Inc is a corporation located at 5589 Brooks St in Montclair, California that received a Coronavirus-related PPP loan from the SBA of $200,500.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least twelve people during the applicable loan loan period.

$ PPP Loan Information
Loan #9555797209

Loan Size:

$200,500

Jobs Retained:

12

Loan Approved:

2020-04-28

Loan Status:

Paid in Full or Forgiven

Lender:

Sunwest Bank

West-Tech Mechanical, Inc in Montclair, CA received a Paycheck Protection Loan of $200,500 through Sunwest 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 April, 2021.

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-Tech Mechanical, Inc's 2019 payroll expenses are estimated to be at least $962,400.

Based on their reported 12 jobs retained, this equals an estimated average yearly compensation of $80,200 per employee1

Reported PPP Proceed Usage:

On the PPP application, West-Tech Mechanical, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $200,500

Business Information - West-Tech Mechanical, Inc in Montclair, CA

West-Tech Mechanical, Inc
5589 Brooks St
Montclair, CA 91763

Business Industry:
Plumbing, Heating, and Air-Conditioning Contractors
NAICS code 238220

Business Owner Demographics

Race: White

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: Y

Rural / Urban: Urban

San Bernardino County, CA — SBA Office 0920 — Congressional District: CA-35

Similar Companies near Montclair

In the Montclair area, 42 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a PPP loan. These local businesses reported an average of 26 employees (compared to this company's 12) and received an average PPP loan of $233,797 (compared to this company's $200,500).

Industry PPP Comparison Statistics

Nationwide, 92,266 businesses in the "Plumbing, Heating, and Air-Conditioning Contractors" industry received a total of $12.59B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.

PPP recipients in this industry report an average of 11 employees, 8% lower than West-Tech Mechanical, Inc's reported 12 employees, and received an average PPP loan of $136,477, 32% lower than this company's loan of $200,500.

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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Source: www.federalpay.org/paycheck-protection-program/west-tech-mechanical-inc-montclair-ca