WESTERN ECOSYSTEMS TECHNOLOGY INC.
PPP Loan approved Apr 6, 2020 through ANB Bank
Borrower Information
Business Details
Lender Information
Self-Reported Demographics
How Proceeds Were Used
| Category | Amount | % of Total Proceeds |
|---|---|---|
| Payroll | $2,536,500.00 | 75.0% |
| Rent / Lease | $845,500.00 | 25.0% |
About This Loan
WESTERN ECOSYSTEMS TECHNOLOGY INC. received a PPP loan of $3,382,000 approved on Apr 6, 2020. The loan was originated by ANB Bank.
WESTERN ECOSYSTEMS TECHNOLOGY INC. is a corporation located in CHEYENNE, Wyoming. At the time of the application, the business was described as "existing or more than 2 years old".
The business operates in the Other Professional, Scientific, and Technical Services industry (NAICS 541990), part of the Professional, Scientific, and Technical Services sector of the economy. The applicant reported 302 jobs as retained through this loan.
The SBA forgave $3,421,101.48 of this loan — 101.2% of the total approved amount, with forgiveness recorded on Jun 11, 2021. This means the borrower was not required to repay this portion, having satisfied the PPP's eligibility criteria for forgiveness, including maintaining payroll levels and using the funds for qualified expenses.
According to the SBA's records, the proceeds of this loan were allocated as follows: $2,536,500 to payroll, $845,500 to rent or lease obligations. The payroll component represents 75.0% of disclosed proceeds, consistent with the program's requirement that at least 60% of loan funds be used for payroll costs to qualify for full forgiveness.
This loan is one of millions approved nationwide during the COVID-19 pandemic. To explore other recipients in Wyoming, visit the Wyoming page. To compare this loan with others in the same industry, see the Other Professional, Scientific, and Technical Services industry page.