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PPP Loan Data — Cingular Grocers, Fullerton, CA

SBA PPP loan data, payroll data, and salaries for Cingular Grocers
CA

Cingular Grocers

Entity: Corporation

Industry: Executive Search Services

Location: Fullerton, CA

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Cingular Grocers is a corporation located at 110 E Wilshire Ave Ste 510 in Fullerton, California that received a Coronavirus-related PPP loan from the SBA of $4,212,506.00 in May, 2020.

The company has reported itself as a male owned business, and employed at least 494 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$4.21M

Jobs Retained:

494

Loan Approved:

2020-05-22

Lender:

BANK OF AMERICA, NATIONAL ASSOCIATION

Cingular Grocers received a Paycheck Protection Loan of $4.21M through BANK OF AMERICA, NATIONAL ASSOCIATION, which was approved in May, 2020.

Based on standard PPP eligibility rules, Cingular Grocers' total 2019 payroll expenses were approximately $20.22M in order to qualify for the PPP loan amount received.

Based on their reported 494 jobs retained, this equals an estimated average yearly compensation of $40,931 per employee1.

Because the loan received by Cingular Grocers 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 - Cingular Grocers in Fullerton, CA

Cingular Grocers
110 E Wilshire Ave Ste 510
Fullerton, CA 92832

Business Industry

Executive Search Services (NAICS code 561312)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: CA-39

Similar Companies near Fullerton

In the Fullerton area, 4 businesses in the "Executive Search Services" industry received a PPP loan. These local businesses reported an average of 125 employees (compared to this company's 494) and received an average PPP loan of $1,073,877 (compared to this company's $4.21M).

Industry PPP Comparison Statistics

Nationwide, 4,499 businesses in the "Executive Search Services" industry received a total of $602,770,500.00 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 12 employees, 98% lower than Cingular Grocers' reported 494 employees, and received an average PPP loan of $133,979, 97% lower than this company's loan of $4.21M.

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/cingular-grocers-fullerton-ca