PPP Loan Data — Wings Enterprises Inc, Washington, DC
Wings Enterprises Inc is a corporation located at 3212 7th St in Washington, District of Columbia that received a Coronavirus-related PPP loan from the SBA of $1,614,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:PNC Bank, National Association
Wings Enterprises Inc in Washington, DC received a Paycheck Protection Loan of $1.61M through PNC Bank, National Association, 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 May, 2021.
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, Wings Enterprises Inc's 2019 payroll expenses are estimated to be at least $7.75M.
Based on their reported 146 jobs retained, this equals an estimated average yearly compensation of $53,063 per employee1
Reported PPP Proceed Usage:
On the PPP application, Wings Enterprises Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,614,000
Business Information - Wings Enterprises Inc in Washington, DC
3212 7th St
Washington, DC 20017
Structural Steel and Precast Concrete Contractors
NAICS code 238120
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, 3,902 businesses in the "Structural Steel and Precast Concrete Contractors" industry received a total of $1.02B 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 20 employees, 86% lower than Wings Enterprises Inc's reported 146 employees, and received an average PPP loan of $260,319, 84% lower than this company's loan of $1.61M.
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Footnotes & Information
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