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PPP Loan Data — Westech Engineering, Inc, Salt Lake City, UT

SBA PPP loan data, payroll data, and salaries for Westech Engineering, Inc
UT

Westech Engineering, Inc

Entity: Corporation

Industry: Engineering Services

Location: Salt Lake City, UT

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Westech Engineering, Inc is a corporation located at 3665 South West Temple in Salt Lake City, Utah that received a Coronavirus-related PPP loan from the SBA of $9,356,787.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$9.36M

Jobs Retained:

500

Loan Approved:

2020-04-16

Lender:

U.S. BANK, NATIONAL ASSOCIATION

Westech Engineering, Inc received a Paycheck Protection Loan of $9.36M through U.S. BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Westech Engineering, Inc's total 2019 payroll expenses were approximately $44.91M in order to qualify for the PPP loan amount received.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $89,825 per employee1.

Because the loan received by Westech Engineering, Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Westech Engineering, Inc in Salt Lake City, UT

Westech Engineering, Inc
3665 South West Temple
Salt Lake City, UT 84115

Business Industry

Engineering Services (NAICS code 541330)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: UT-04

Similar Companies near Salt Lake City

In the Salt Lake City area, 14 businesses in the "Engineering Services" industry received a PPP loan. These local businesses reported an average of 52 employees (compared to this company's 500) and received an average PPP loan of $906,067 (compared to this company's $9.36M).

Industry PPP Comparison Statistics

Nationwide, 28,113 businesses in the "Engineering Services" industry received a total of $7,024,215,141.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 14 employees, 97% lower than Westech Engineering, Inc's reported 500 employees, and received an average PPP loan of $249,856, 97% lower than this company's loan of $9.36M.

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.

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Footnotes & Information

1. 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/westech-engineering-inc-salt-lake-city-ut