PPP Loan Data — Western Integrated Technologies Inc, Kent, WA
Western Integrated Technologies Inc
Location: Kent, WATweet This • Search All PPP Data
Western Integrated Technologies Inc is a corporation located at 7651 South 190th in Kent, Washington that received a Coronavirus-related PPP loan from the SBA of $2,321,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Washington Trust Bank
Western Integrated Technologies Inc in Kent, WA received a Paycheck Protection Loan of $2.32M through Washington Trust Bank, which was approved in April, 2020.
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, Western Integrated Technologies Inc's 2019 payroll expenses are estimated to be at least $11.14M.
Based on their reported 156 jobs retained, this equals an estimated average yearly compensation of $71,415 per employee1
Reported PPP Proceed Usage:
On the PPP application, Western Integrated Technologies Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,321,000
Business Information - Western Integrated Technologies Inc in Kent, WA
7651 South 190th
Kent, WA 98032
Industrial Machinery and Equipment Merchant Wholesalers
NAICS code 423830
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Kent
In the Kent area, 7 businesses in the "Industrial Machinery and Equipment Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 32 employees (compared to this company's 156) and received an average PPP loan of $495,108 (compared to this company's $2.32M).
Similar Nearby Businesses Who Received PPP Funding:
R&R Compressor Service Company
Premier Torque Converters, Inc
Transmission Remanufacturing Company LLC
Synergistic Technologies, Inc
Morse Hydraulics USA, LLC
Industry PPP Comparison Statistics
Nationwide, 11,076 businesses in the "Industrial Machinery and Equipment Merchant Wholesalers" industry received a total of $2.24B 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 15 employees, 90% lower than Western Integrated Technologies Inc's reported 156 employees, and received an average PPP loan of $202,534, 91% lower than this company's loan of $2.32M.
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Footnotes & Information
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