PPP Loan Data — AG Adriano Goldschmied Inc, South Gate, CA
AG Adriano Goldschmied Inc
Entity: Subchapter S Corporation
Location: South Gate, CATweet This • Search All PPP Data
AG Adriano Goldschmied Inc is a subchapter s corporation located at 2741 Seminole Ave in South Gate, California that received a Coronavirus-related PPP loan from the SBA of $1,820,000.00 in January, 2021.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of Hope
AG Adriano Goldschmied Inc in South Gate, CA received a Paycheck Protection Loan of $1.82M through Bank of Hope, which was approved in January, 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, AG Adriano Goldschmied Inc's 2019 payroll expenses are estimated to be at least $8.74M.
Based on their reported 290 jobs retained, this equals an estimated average yearly compensation of $30,124 per employee1
Reported PPP Proceed Usage:
On the PPP application, AG Adriano Goldschmied Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,819,995
- Utilities: $1
Business Information - AG Adriano Goldschmied Inc in South Gate, CA
2741 Seminole Ave
South Gate, CA 90280
Men's and Boys' Clothing and Furnishings Merchant Wholesalers
NAICS code 424320
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near South Gate
In the South Gate area, 4 businesses in the "Men's and Boys' Clothing and Furnishings Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 81 employees (compared to this company's 290) and received an average PPP loan of $526,054 (compared to this company's $1.82M).
Similar Nearby Businesses Who Received PPP Funding:
Y.h. Texpert Corporation
South Gate, CA
Haute Queen LLC
South Gate, CA
Grits Apparel LLC
South Gate, CA
Industry PPP Comparison Statistics
Nationwide, 8,559 businesses in the "Men's and Boys' Clothing and Furnishings Merchant Wholesalers" industry received a total of $362.36M 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 4 employees, 99% lower than AG Adriano Goldschmied Inc's reported 290 employees, and received an average PPP loan of $42,336, 98% lower than this company's loan of $1.82M.
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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. 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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