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PPP Loan Data — Cingular Grocers,
Fullerton, CA
Cingular Grocers
Entity: Corporation
Industry: Employment Placement Agencies
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 $2,000,000.00 in April, 2021.
The company has reported itself as an American indian or alaska native male owned business, and employed at least 97 people during the applicable loan loan period.
$
PPP Loan Information
Loan #3168758904
Loan Size:
Jobs Retained:
97Loan Approved:
2021-04-27Loan Status:
Ongoing LoanLender:
Bank of America, National AssociationCingular Grocers in Fullerton, CA received a Paycheck Protection Loan of $2M through Bank of America, National Association, which was approved in April, 2021.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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, Cingular Grocers' 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 97 jobs retained, this equals an estimated average yearly compensation of $98,969 per employee1
Reported PPP Proceed Usage:
On the PPP application, Cingular Grocers reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,995
- Utilities: $1
Business Information - Cingular Grocers in Fullerton, CA
110 E Wilshire Ave Ste 510
Fullerton, CA 92832
Business Industry:
Employment Placement Agencies
NAICS code 561311
Business Owner Demographics
Race: American Indian or Alaska Native
Ethnicity: 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 9 other businesses that received a PPP loan registered to the same address as Cingular Grocers.
Core Investments LLC
Other Activities Related to Real Estate
Gabriel Garcia
Other Specialized Design Services
Trumpet Inc
Insurance Agencies and Brokerages
Chris Hunt Inc
Employment Placement Agencies
Jobsource North America, Inc
Employment Placement Agencies
Ted Systems Inc
Payroll Services
Chris Matthew Group, LLC
Human Resources Consulting Services
Cingular HR
Employment Placement Agencies
Kraferd
Computer Facilities Management Services
Similar Companies near Fullerton
In the Fullerton area, 18 businesses in the "Employment Placement Agencies" industry received a PPP loan. These local businesses reported an average of 63 employees (compared to this company's 97) and received an average PPP loan of $625,622 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Staffgarden LLC
Fullerton, CA
Jobsource Chino, Inc
Fullerton, CA
Chris Hunt, Inc
Fullerton, CA
Cingular Staffing Inc
Fullerton, CA
Jobsource Santa Ana, Inc
Fullerton, CA
Jobsource City Of Industry Inc
Fullerton, CA
United Grocery Workers, Inc
Fullerton, CA
Cingular HR
Fullerton, CA
Industry PPP Comparison Statistics
Nationwide, 12,491 businesses in the "Employment Placement Agencies" industry received a total of $3.47B 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 35 employees, 64% lower than Cingular Grocers' reported 97 employees, and received an average PPP loan of $277,509, 86% lower than this company's loan of $2M.
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 an American indian or alaska native male owned business, and employed at least 494 people during the applicable loan loan period.
$
PPP Loan Information
Loan #1824797800
Loan Size:
Jobs Retained:
494Loan Approved:
2020-05-22Loan Status:
Ongoing LoanLender:
Bank of America, National AssociationCingular Grocers in Fullerton, CA received a Paycheck Protection Loan of $4.21M through Bank of America, National Association, which was approved in May, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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, Cingular Grocers' 2019 payroll expenses are estimated to be at least $20.22M.
Based on their reported 494 jobs retained, this equals an estimated average yearly compensation of $40,931 per employee1
Reported PPP Proceed Usage:
On the PPP application, Cingular Grocers reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $4,212,506
Business Information - Cingular Grocers in Fullerton, CA
110 E Wilshire Ave Ste 510
Fullerton, CA 92832
Business Industry:
Executive Search Services
NAICS code 561312
Business Owner Demographics
Race: American Indian or Alaska Native
Ethnicity: Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age:
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Businesses Using Same Address:
There are 9 other businesses that received a PPP loan registered to the same address as Cingular Grocers.
Core Investments LLC
Other Activities Related to Real Estate
Gabriel Garcia
Other Specialized Design Services
Trumpet Inc
Insurance Agencies and Brokerages
Chris Hunt Inc
Employment Placement Agencies
Jobsource North America, Inc
Employment Placement Agencies
Ted Systems Inc
Payroll Services
Chris Matthew Group, LLC
Human Resources Consulting Services
Cingular HR
Employment Placement Agencies
Kraferd
Computer Facilities Management Services
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).
Similar Nearby Businesses Who Received PPP Funding:
ADY Associates, Inc
Fullerton, CA
Michael Lee DBA Michael Lee
Fullerton, CA
Law Office Of Christopher Steven Hernandez, Inc
Fullerton, CA
Industry PPP Comparison Statistics
Nationwide, 6,995 businesses in the "Executive Search Services" industry received a total of $766.79M 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 10 employees, 98% lower than Cingular Grocers' reported 494 employees, and received an average PPP loan of $109,620, 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. 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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