PPP Loan Data — Boffo Cinemas LLC, La Jolla, CA
Boffo Cinemas LLC is a limited liability company (LLC) located at 7611 Fay Ave in La Jolla, California that received a Coronavirus-related PPP loan from the SBA of $2,539,427.00 in April, 2020.
$ PPP Loan Information
Lender:JPMORGAN CHASE BANK, NATIONAL ASSOCIATION
Boffo Cinemas LLC received a Paycheck Protection Loan of $2.54M through JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Boffo Cinemas LLC's total 2019 payroll expenses were approximately $12.19M in order to qualify for the PPP loan amount received.
Based on their reported 415 jobs retained, this equals an estimated average yearly compensation of $29,372 per employee1.
Business Information - Boffo Cinemas LLC in La Jolla, CA
7611 Fay Ave
La Jolla, CA 92037
Motion Picture Theaters (except Drive-Ins) (NAICS code 512131)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: CA-52
Industry PPP Comparison Statistics
Nationwide, 1,375 businesses in the "Motion Picture Theaters (except Drive-Ins)" industry received a total of $148,745,050.00 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 24 employees, 94% lower than Boffo Cinemas LLC's reported 415 employees, and received an average PPP loan of $108,178, 96% lower than this company's loan of $2.54M.
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.
Have FederalPay.org's open data tools been valuable? Consider donating!