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PPP Loan Data — Chrome Hearts LLC,
Beverly Hills, CA
Chrome Hearts LLC
Entity: Limited Liability Company (LLC)
Industry: Apparel Accessories and Other Apparel Manufacturing
Location: Beverly Hills, CA
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Chrome Hearts LLC is a limited liability company (LLC) located at 9100 Wilshire Blvd Suite 1000w in Beverly Hills, California that received a Coronavirus-related PPP loan from the SBA of $7,242,677.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 489 people during the applicable loan loan period.
$
PPP Loan Information
Loan #6496097010
Loan Size:
Jobs Retained:
489Loan Approved:
2020-04-07Loan Status:
Paid in Full or ForgivenLender:
City National BankChrome Hearts LLC in Beverly Hills, CA received a Paycheck Protection Loan of $7.24M 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 July, 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, Chrome Hearts LLC's 2019 payroll expenses are estimated to be at least $34.76M.
Based on their reported 489 jobs retained, this equals an estimated average yearly compensation of $71,094 per employee1
Reported PPP Proceed Usage:
On the PPP application, Chrome Hearts LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $5,866,570
- Rent: $1,376,107
Business Information - Chrome Hearts LLC in Beverly Hills, CA
9100 Wilshire Blvd Suite 1000w
Beverly Hills, CA 90212
Business Industry:
Apparel Accessories and Other Apparel Manufacturing
NAICS code 315990
Business Owner Demographics
Race: White
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Businesses Using Same Address:
There are 3 other businesses that received a PPP loan registered to the same address as Chrome Hearts LLC.
Olivia Gonzales
All Other Professional, Scientific, and Technical Services
Spicy Taco
All Other Professional, Scientific, and Technical Services
Grant Tani Barash & Altman, LLC
Other Accounting Services
Similar Companies near Beverly Hills
In the Beverly Hills area, 9 businesses in the "Apparel Accessories and Other Apparel Manufacturing" industry received a PPP loan. These local businesses reported an average of 56 employees (compared to this company's 489) and received an average PPP loan of $825,217 (compared to this company's $7.24M).
Similar Nearby Businesses Who Received PPP Funding:
Colours Couture LLC
Beverly Hills, CA
Sant And Abel LLC
Beverly Hills, CA
Alvin Ellerbee II
Beverly Hills, CA
Finch Clothing Co. LLC
Beverly Hills, CA
Classical Tailoring LLC
Beverly Hills, CA
Bobblefingers LLC
Beverly Hills, CA
Capretta LLC
Beverly Hills, CA
Industry PPP Comparison Statistics
Nationwide, 8,913 businesses in the "Apparel Accessories and Other Apparel Manufacturing" industry received a total of $570.72M 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 7 employees, 99% lower than Chrome Hearts LLC's reported 489 employees, and received an average PPP loan of $64,033, 99% lower than this company's loan of $7.24M.
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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