PPP Loan Data — Whks & Co. Inc, Mason City, IA
Whks & Co. Inc is a corporation located at 1412 6th Street Southwest in Mason City, Iowa that received a Coronavirus-related PPP loan from the SBA of $1,849,500.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:First Citizens Bank
Whks & Co. Inc in Mason City, IA received a Paycheck Protection Loan of $1.85M through First Citizens 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, Whks & Co. Inc's 2019 payroll expenses are estimated to be at least $8.88M.
Based on their reported 103 jobs retained, this equals an estimated average yearly compensation of $86,190 per employee1
Reported PPP Proceed Usage:
On the PPP application, Whks & Co. Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,849,500
Business Information - Whks & Co. Inc in Mason City, IA
1412 6th Street Southwest
Mason City, IA 50401
NAICS code 541330
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 47,152 businesses in the "Engineering Services" industry received a total of $9.19B 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 13 employees, 87% lower than Whks & Co. Inc's reported 103 employees, and received an average PPP loan of $194,873, 89% lower than this company's loan of $1.85M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!