FederalPay.org
PPP Loan Data — Bega North America Inc,
Carpinteria, CA
Bega North America Inc
Entity: Corporation
Industry: Commercial, Industrial, and Institutional Electric Lighting Fixture Manufacturing
Location: Carpinteria, CA
Tweet This
•
Search All PPP Data
Bega North America Inc is a corporation located at 1000 Bega Way in Carpinteria, California that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in May, 2021.
$
PPP Loan Information
Loan #5892028908
Loan Size:
Jobs Retained:
153Loan Approved:
2021-05-01Loan Status:
Ongoing LoanLender:
City National BankBega North America Inc in Carpinteria, CA received a Paycheck Protection Loan of $2M through City National Bank, which was approved in May, 2021.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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, Bega North America Inc's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 153 jobs retained, this equals an estimated average yearly compensation of $62,745 per employee1
Reported PPP Proceed Usage:
On the PPP application, Bega North America Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,998
- Utilities: $1
Business Information - Bega North America Inc in Carpinteria, CA
1000 Bega Way
Carpinteria, CA 93013
Business Industry:
Commercial, Industrial, and Institutional Electric Lighting Fixture Manufacturing
NAICS code 335122
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: N
Rural / Urban: Urban
Similar Companies near Carpinteria
In the Carpinteria area, 2 businesses in the "Commercial, Industrial, and Institutional Electric Lighting Fixture Manufacturing" industry received a PPP loan. These local businesses reported an average of 82 employees (compared to this company's 153) and received an average PPP loan of $1,084,125 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Thin-Lite Corporation
Camarillo, CA
Industry PPP Comparison Statistics
Nationwide, 1,299 businesses in the "Commercial, Industrial, and Institutional Electric Lighting Fixture Manufacturing" industry received a total of $273.38M 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 17 employees, 89% lower than Bega North America Inc's reported 153 employees, and received an average PPP loan of $210,455, 89% lower than this company's loan of $2M.
Bega North America, Inc
Entity: Corporation
Industry: Other Lighting Equipment Manufacturing
Location: Carpinteria, CA
Tweet This
•
Search All PPP Data
Bega North America, Inc is a corporation located at 1000 Bega Way in Carpinteria, California that received a Coronavirus-related PPP loan from the SBA of $2,827,900.00 in April, 2020.
$
PPP Loan Information
Loan #6669187110
Loan Size:
Jobs Retained:
160Loan Approved:
2020-04-14Loan Status:
Paid in Full or ForgivenLender:
City National BankBega North America, Inc in Carpinteria, CA received a Paycheck Protection Loan of $2.83M through City 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 October, 2021.
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, Bega North America, Inc's 2019 payroll expenses are estimated to be at least $13.57M.
Based on their reported 160 jobs retained, this equals an estimated average yearly compensation of $84,837 per employee1
Reported PPP Proceed Usage:
On the PPP application, Bega North America, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,568,250
- Health Care: $259,650
Business Information - Bega North America, Inc in Carpinteria, CA
1000 Bega Way
Carpinteria, CA 93013
Business Industry:
Other Lighting Equipment Manufacturing
NAICS code 335129
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Carpinteria
In the Carpinteria area, 2 businesses in the "Other Lighting Equipment Manufacturing" industry received a PPP loan. These local businesses reported an average of 90 employees (compared to this company's 160) and received an average PPP loan of $1,537,191 (compared to this company's $2.83M).
Similar Nearby Businesses Who Received PPP Funding:
Thin-Lite Corporation
Camarillo, CA
Industry PPP Comparison Statistics
Nationwide, 752 businesses in the "Other Lighting Equipment Manufacturing" industry received a total of $124.18M 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 14 employees, 91% lower than Bega North America, Inc's reported 160 employees, and received an average PPP loan of $165,139, 94% lower than this company's loan of $2.83M.
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.
Have FederalPay.org's open data tools been valuable? Consider donating!