PPP Loan Data — Balsam Brands Inc, Redwood City, CA
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
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.
Business Information - Balsam Brands Inc in Redwood City, CA
700 Jefferson Ave 2nd Floor
Redwood City, CA 94063
All Other Home Furnishings Stores (NAICS code 442299)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional 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
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.
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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