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PPP Loan Data — Balsam Brands Inc, Redwood City, CA

SBA PPP loan data, payroll data, and salaries for Balsam Brands Inc
CA

Balsam Brands Inc

Entity: Corporation

Industry: All Other Home Furnishings Stores

Location: Redwood City, CA

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Balsam Brands Inc is a corporation located at 700 Jefferson Ave 2nd Floor in Redwood City, California that received a Coronavirus-related PPP loan from the SBA of $2,489,187.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.49M

Jobs Retained:

124

Loan Approved:

2020-04-27

Lender:

MUFG UNION BANK, NATIONAL ASSOCIATION

Balsam Brands Inc received a Paycheck Protection Loan of $2.49M through MUFG UNION BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Balsam Brands Inc's total 2019 payroll expenses were approximately $11.95M in order to qualify for the PPP loan amount received.

Based on their reported 124 jobs retained, this equals an estimated average yearly compensation of $96,356 per employee1.

Because the loan received by Balsam Brands Inc 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 - Balsam Brands Inc in Redwood City, CA

Balsam Brands Inc
700 Jefferson Ave 2nd Floor
Redwood City, CA 94063

Business Industry

All Other Home Furnishings Stores (NAICS code 442299)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: CA-14

Similar Companies near Redwood City

In the Redwood City area, 2 businesses in the "All Other Home Furnishings Stores" industry received a PPP loan. These local businesses reported an average of 62 employees (compared to this company's 124) and received an average PPP loan of $1,254,885 (compared to this company's $2.49M).

Similar Nearby Businesses Who Received PPP Funding:

Julia B Couture Linens LLC
Woodside, CA

$20,583 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 4,512 businesses in the "All Other Home Furnishings Stores" industry received a total of $283,450,062.00 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 7 employees, 94% lower than Balsam Brands Inc's reported 124 employees, and received an average PPP loan of $62,821, 97% lower than this company's loan of $2.49M.

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.

Search FederalPay's Full PPP Loan Database

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/balsam-brands-inc-redwood-city-ca