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PPP Loan Data — Boffo Cinemas LLC,
La Jolla, CA
Boffo Cinemas LLC
Entity: Limited Liability Company (LLC)
Industry: Motion Picture Theaters (except Drive-Ins)
Location: La Jolla, CA
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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 $2,000,000.00 in March, 2021.
$
PPP Loan Information
Loan #9697418605
Loan Size:
Jobs Retained:
286Loan Approved:
2021-03-26Loan Status:
Ongoing LoanLender:
JPMorgan Chase Bank, National AssociationBoffo Cinemas LLC in La Jolla, CA received a Paycheck Protection Loan of $2M through JPMorgan Chase Bank, National Association, which was approved in March, 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, Boffo Cinemas LLC's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 286 jobs retained, this equals an estimated average yearly compensation of $33,566 per employee1
Reported PPP Proceed Usage:
On the PPP application, Boffo Cinemas LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,995
- Utilities: $1
Business Information - Boffo Cinemas LLC in La Jolla, CA
7611 Fay Ave
La Jolla, CA 92037
Business Industry:
Motion Picture Theaters (except Drive-Ins)
NAICS code 512131
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
Industry PPP Comparison Statistics
Nationwide, 1,978 businesses in the "Motion Picture Theaters (except Drive-Ins)" industry received a total of $198.1M 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 25 employees, 91% lower than Boffo Cinemas LLC's reported 286 employees, and received an average PPP loan of $100,152, 95% lower than this company's loan of $2M.
Boffo Cinemas LLC
Entity: Limited Liability Company (LLC)
Industry: Motion Picture Theaters (except Drive-Ins)
Location: La Jolla, CA
Tweet This
•
Search All PPP Data
Boffo Cinemas LLC is a limited liability company (LLC) located at 7611 Fay Ave 0.0 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
Loan #9238487010
Loan Size:
Jobs Retained:
415Loan Approved:
2020-04-09Loan Status:
Ongoing LoanLender:
JPMorgan Chase Bank, National AssociationBoffo Cinemas LLC in La Jolla, CA received a Paycheck Protection Loan of $2.54M through JPMorgan Chase Bank, National Association, which was approved in April, 2020.
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, Boffo Cinemas LLC's 2019 payroll expenses are estimated to be at least $12.19M.
Based on their reported 415 jobs retained, this equals an estimated average yearly compensation of $29,372 per employee1
Reported PPP Proceed Usage:
On the PPP application, Boffo Cinemas LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,905,000
- Utilities: $84,427
- Rent: $400,000
- Health Care: $50,000
- Debt Interest: $100,000
Business Information - Boffo Cinemas LLC in La Jolla, CA
7611 Fay Ave 0.0
La Jolla, CA 92037
Business Industry:
Motion Picture Theaters (except Drive-Ins)
NAICS code 512131
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
Industry PPP Comparison Statistics
Nationwide, 1,978 businesses in the "Motion Picture Theaters (except Drive-Ins)" industry received a total of $198.1M 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 25 employees, 94% lower than Boffo Cinemas LLC's reported 415 employees, and received an average PPP loan of $100,152, 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. 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.
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