PPP Loan Data — WM. Masters Inc, Bloomington, IL
WM. Masters Inc
Location: Bloomington, ILTweet This • Search All PPP Data
WM. Masters Inc is a corporation located at 401 Olympia Dr. in Bloomington, Illinois that received a Coronavirus-related PPP loan from the SBA of $2,156,200.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
WM. Masters Inc in Bloomington, IL received a Paycheck Protection Loan of $2.16M through Commerce Bank, which was approved in April, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 103. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, WM. Masters Inc's 2019 payroll expenses are estimated to be at least $10.35M (not accounting for salary amounts > $100k).
Because the 79 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, WM. Masters Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,125,458
- Utilities: $8,022
- Rent: $22,720
Business Information - WM. Masters Inc in Bloomington, IL
401 Olympia Dr.
Bloomington, IL 61704
Electrical Contractors and Other Wiring Installation Contractors
NAICS code 238210
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Bloomington
In the Bloomington area, 8 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 17 employees (compared to this company's 79) and received an average PPP loan of $349,415 (compared to this company's $2.16M).
Similar Nearby Businesses Who Received PPP Funding:
Masters Bros Inc - Mab5857
L & S Enterprises LLC
BBA Construction LLC
Industry PPP Comparison Statistics
PPP recipients in this industry report an average of 11 employees, 86% lower than WM. Masters Inc's reported 79 employees, and received an average PPP loan of $142,494, 93% lower than this company's loan of $2.16M.
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