PPP Loan Data — Chanchal Inc, Fairfield, CA
Chanchal Inc is a corporation located at 240 Francico Lane Unit 14215 in Fairfield, California that received a Coronavirus-related PPP loan from the SBA of $224,458.00 in May, 2020.
$ PPP Loan Information
Lender:JPMORGAN CHASE BANK, NATIONAL ASSOCIATION
Chanchal Inc received a Paycheck Protection Loan of $224,458 through JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, which was approved in May, 2020.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 0.
Based on standard PPP eligibility rules, Chanchal Inc's total 2019 payroll expenses were approximately $1.08M in order to qualify for the PPP loan amount received.
Based on their reported 39 jobs retained, this equals an estimated average yearly compensation of $27,626 per employee1.
Business Information - Chanchal Inc in Fairfield, CA
240 Francico Lane Unit 14215
Fairfield, CA 94533
Limited-Service Restaurants (NAICS code 722513)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: CA-03
Similar Companies near Fairfield
In the Fairfield area, 28 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 16 employees (compared to this company's 39) and received an average PPP loan of $213,174 (compared to this company's $224,458).
Similar Nearby Businesses Who Received PPP Funding:
PRB Management, LLC
Wing Dhaba Inc.
Bay Valley Foods Inc.
JSB Restaurants Inc.
Tasty Indian Pizza Inc.
Exponent Subway Ff Inc
Somonea Cheng Investment Inc
MAK's Hop Hing Restaurant Inc.
Industry PPP Comparison Statistics
Nationwide, 79,996 businesses in the "Limited-Service Restaurants" industry received a total of $9,671,819,152.00 in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 23 employees, 41% lower than Chanchal Inc's reported 39 employees, and received an average PPP loan of $120,904, 46% lower than this company's loan of $224,458.
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. 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!