PPP Loan Data — CIK Power Distributors, LLC, Orange, CA
CIK Power Distributors, LLC
Entity: Limited Liability Company (LLC)
Location: Orange, CATweet This • Search All PPP Data
CIK Power Distributors, LLC is a limited liability company (LLC) located at 240 W Grove Ave in Orange, California that received a Coronavirus-related PPP loan from the SBA of $1,727,100.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:City National Bank
CIK Power Distributors, LLC in Orange, CA received a Paycheck Protection Loan of $1.73M 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 June, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based 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, CIK Power Distributors, LLC's 2019 payroll expenses are estimated to be at least $8.29M.
Based on their reported 123 jobs retained, this equals an estimated average yearly compensation of $67,399 per employee1
Reported PPP Proceed Usage:
On the PPP application, CIK Power Distributors, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,727,100
Business Information - CIK Power Distributors, LLC in Orange, CA
240 W Grove Ave
Orange, CA 92865
Power and Communication Line and Related Structures Construction
NAICS code 237130
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Orange
In the Orange area, 2 businesses in the "Power and Communication Line and Related Structures Construction" industry received a PPP loan. These local businesses reported an average of 67 employees (compared to this company's 123) and received an average PPP loan of $894,899 (compared to this company's $1.73M).
Similar Nearby Businesses Who Received PPP Funding:
ND Ants Material Handling Inc
Industry PPP Comparison Statistics
Nationwide, 4,817 businesses in the "Power and Communication Line and Related Structures Construction" industry received a total of $1.06B 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 17 employees, 86% lower than CIK Power Distributors, LLC's reported 123 employees, and received an average PPP loan of $219,213, 87% lower than this company's loan of $1.73M.
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Footnotes & Information
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