PPP Loan Data — Wittichen Supply Company, Birmingham, AL
Wittichen Supply Company
Location: Birmingham, ALTweet This • Search All PPP Data
Wittichen Supply Company is a corporation located at 2912 3rd Ave N in Birmingham, Alabama that received a Coronavirus-related PPP loan from the SBA of $2,311,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Wittichen Supply Company in Birmingham, AL received a Paycheck Protection Loan of $2.31M through ServisFirst 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, Wittichen Supply Company's 2019 payroll expenses are estimated to be at least $11.09M.
Based on their reported 250 jobs retained, this equals an estimated average yearly compensation of $44,371 per employee1
Reported PPP Proceed Usage:
On the PPP application, Wittichen Supply Company reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,311,000
Business Information - Wittichen Supply Company in Birmingham, AL
2912 3rd Ave N
Birmingham, AL 35203
Refrigeration Equipment and Supplies Merchant Wholesalers
NAICS code 423740
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Birmingham
In the Birmingham area, 3 businesses in the "Refrigeration Equipment and Supplies Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 90 employees (compared to this company's 250) and received an average PPP loan of $813,745 (compared to this company's $2.31M).
Similar Nearby Businesses Who Received PPP Funding:
Washer & Refrigeration Supply Company
Washer & Refrigeration Supply Co. Inc
Industry PPP Comparison Statistics
Nationwide, 890 businesses in the "Refrigeration Equipment and Supplies Merchant Wholesalers" industry received a total of $168.93M 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, 94% lower than Wittichen Supply Company's reported 250 employees, and received an average PPP loan of $189,813, 92% lower than this company's loan of $2.31M.
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Footnotes & Information
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