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PPP Loan Data — Cardinal Paint And Powder Inc., South El Monte, CA

SBA PPP loan data, payroll data, and salaries for Cardinal Paint And Powder Inc.
CA

Cardinal Paint And Powder Inc.

Entity: Corporation

Industry: Paint and Coating Manufacturing

Location: South El Monte, CA

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Cardinal Paint And Powder Inc. is a corporation located at 1329 Potrero Ave in South El Monte, California that received a Coronavirus-related PPP loan from the SBA of $3,153,000.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.15M

Jobs Retained:

261

Loan Approved:

2020-04-13

Lender:

CITIZENS BUSINESS BANK

Cardinal Paint And Powder Inc. received a Paycheck Protection Loan of $3.15M through CITIZENS BUSINESS BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Cardinal Paint And Powder Inc.'s total 2019 payroll expenses were approximately $15.13M in order to qualify for the PPP loan amount received.

Based on their reported 261 jobs retained, this equals an estimated average yearly compensation of $57,986 per employee1.

Because the loan received by Cardinal Paint And Powder 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 - Cardinal Paint And Powder Inc. in South El Monte, CA

Cardinal Paint And Powder Inc.
1329 Potrero Ave
South El Monte, CA 91733

Business Industry

Paint and Coating Manufacturing (NAICS code 325510)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: CA-38

Similar Companies near South El Monte

In the South El Monte area, 3 businesses in the "Paint and Coating Manufacturing" industry received a PPP loan. These local businesses reported an average of 110 employees (compared to this company's 261) and received an average PPP loan of $1,283,671 (compared to this company's $3.15M).

Industry PPP Comparison Statistics

Nationwide, 1,048 businesses in the "Paint and Coating Manufacturing" industry received a total of $271,012,887.00 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 18 employees, 93% lower than Cardinal Paint And Powder Inc.'s reported 261 employees, and received an average PPP loan of $258,600, 92% lower than this company's loan of $3.15M.

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.

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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/cardinal-paint-and-powder-inc-south-el-monte-ca