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PPP Loan Data — Andre-Boudin Bakeries Inc,
San Francisco, CA
Andre-Boudin Bakeries Inc
Entity: Corporation
Industry: Limited-Service Restaurants
Location: San Francisco, CA
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Andre-Boudin Bakeries Inc is a corporation located at 50 San Francisco Suite 200 in San Francisco, California that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in February, 2021.
The company has reported itself as a male owned business, and employed at least 456 people during the applicable loan loan period.
$
PPP Loan Information
Loan #2342858509
Loan Size:
Jobs Retained:
456Loan Approved:
2021-02-20Loan Status:
Paid in Full or ForgivenLender:
Woodforest National BankAndre-Boudin Bakeries Inc in San Francisco, CA received a Paycheck Protection Loan of $2M through Woodforest National Bank, which was approved in February, 2021.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in January, 2022.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Andre-Boudin Bakeries Inc's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 456 jobs retained, this equals an estimated average yearly compensation of $21,053 per employee1
Reported PPP Proceed Usage:
On the PPP application, Andre-Boudin Bakeries Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,995
- Utilities: $1
Business Information - Andre-Boudin Bakeries Inc in San Francisco, CA
50 San Francisco Suite 200
San Francisco, CA 94133
Business Industry:
Limited-Service Restaurants
NAICS code 722513
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Male Owned
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: Y
Rural / Urban: Urban
Businesses Using Same Address:
There is one other business that received a PPP loan registered to the same address as Andre-Boudin Bakeries Inc.
Boudin Properties Operating Inc
Limited-Service Restaurants
Similar Companies near San Francisco
In the San Francisco area, 85 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 20 employees (compared to this company's 456) and received an average PPP loan of $139,974 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Three Sisters Food Co. Inc
San Francisco, CA
Fahrenheit 360
San Francisco, CA
Giovanni Specialties LLC
San Francisco, CA
Hien Nguyen
San Francisco, CA
SF Nice LLC DBA Taqueria Zorro
San Francisco, CA
New Regent Cafe
San Francisco, CA
Joanie's Diner, Inc
San Francisco, CA
K & E Enterprise
San Francisco, CA
S&S Pouya Inc
San Francisco, CA
Industry PPP Comparison Statistics
Nationwide, 136,511 businesses in the "Limited-Service Restaurants" industry received a total of $13.86B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 21 employees, 95% lower than Andre-Boudin Bakeries Inc's reported 456 employees, and received an average PPP loan of $101,497, 95% lower than this company's loan of $2M.
Andre-Boudin Bakeries, Inc
Entity: Corporation
Industry: Retail Bakeries
Location: San Francisco, CA
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Andre-Boudin Bakeries, Inc is a corporation located at 50 Francisco St., Suite 200 in San Francisco, California that received a Coronavirus-related PPP loan from the SBA of $4,394,600.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least six people during the applicable loan loan period.
$
PPP Loan Information
Loan #5542217006
Loan Size:
Jobs Retained:
6Loan Approved:
2020-04-05Loan Status:
Paid in Full or ForgivenLender:
Woodforest National BankAndre-Boudin Bakeries, Inc in San Francisco, CA received a Paycheck Protection Loan of $4.39M through Woodforest National Bank, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in July, 2021.
The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 6 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 211. 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
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Andre-Boudin Bakeries, Inc's 2019 payroll expenses are estimated to be at least $21.09M (not accounting for salary amounts > $100k).
Because the 6 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, Andre-Boudin Bakeries, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $4,394,600
Business Information - Andre-Boudin Bakeries, Inc in San Francisco, CA
50 Francisco St., Suite 200
San Francisco, CA 94133
Business Industry:
Retail Bakeries
NAICS code 311811
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Male Owned
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: N
Rural / Urban: Urban
Businesses Using Same Address:
There is one other business that received a PPP loan registered to the same address as Andre-Boudin Bakeries, Inc.
Boudin Properties Operating, Inc
Retail Bakeries
Similar Companies near San Francisco
In the San Francisco area, 12 businesses in the "Retail Bakeries" industry received a PPP loan. These local businesses reported an average of 31 employees (compared to this company's 6) and received an average PPP loan of $678,040 (compared to this company's $4.39M).
Similar Nearby Businesses Who Received PPP Funding:
Arsicault Bakery, Inc
San Francisco, CA
New Hollywood Bakery And Restaurant
San Francisco, CA
Shun Fung International Trading
San Francisco, CA
Blake T Campbell
San Francisco, CA
Yong An Tan
San Francisco, CA
Fisherman's Wharf Sourdough French Bread Bakeries, Inc
San Francisco, CA
Boudin Properties Operating, Inc
San Francisco, CA
Golden Wheatfield Bakery Inc
San Francisco, CA
Industry PPP Comparison Statistics
Nationwide, 13,906 businesses in the "Retail Bakeries" industry received a total of $598.01M 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 8 employees, 33% higher than Andre-Boudin Bakeries, Inc's reported 6 employees, and received an average PPP loan of $43,004, 99% lower than this company's loan of $4.39M.
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.
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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