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PPP Loan Data — Wpromote, LLC, El Segundo, CA

SBA PPP loan data, payroll data, and salaries for Wpromote, LLC
CA

Wpromote, LLC

Entity: Limited Liability Company (LLC)

Industry: Other Services Related to Advertising

Location: El Segundo, CA

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Wpromote, LLC is a limited liability company (LLC) located at 2100 E Grand Ave in El Segundo, California that received a Coronavirus-related PPP loan from the SBA of $7,285,717.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least 449 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$7.29M

Jobs Retained:

449

Loan Approved:

2020-04-15

Lender:

CITY NATIONAL BANK

Wpromote, LLC in El Segundo, CA received a Paycheck Protection Loan of $7.29M through CITY NATIONAL BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Wpromote, LLC's total 2019 payroll expenses were approximately $34.97M in order to qualify for the PPP loan amount received.

Based on their reported 449 jobs retained, this equals an estimated average yearly compensation of $77,887 per employee1.

Because the loan received by Wpromote, LLC is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Wpromote, LLC in El Segundo, CA

Wpromote, LLC
2100 E Grand Ave
El Segundo, CA 90245

Business Industry

Other Services Related to Advertising (NAICS code 541890)

Business Owner Demographics

Race / Ethnicity: WHITE

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: CA-33

Similar Companies near El Segundo

In the El Segundo area, 5 businesses in the "Other Services Related to Advertising" industry received a PPP loan. These local businesses reported an average of 114 employees (compared to this company's 449) and received an average PPP loan of $1,957,831 (compared to this company's $7.29M).

Industry PPP Comparison Statistics

Nationwide, 5,061 businesses in the "Other Services Related to Advertising" industry received a total of $403,004,422.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 6 employees, 99% lower than Wpromote, LLC's reported 449 employees, and received an average PPP loan of $79,629, 99% lower than this company's loan of $7.29M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan. All information displayed on this page is publicly available information under PPP loan guidelines, and is published unmodified, as provided by the SBA.

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Footnotes & Information

1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/wpromote-llc-el-segundo-ca