PPP Loan Data — Clear Ridge, Inc, Monterey, CA
Clear Ridge, Inc is a sole proprietorship located at 10 Harris Court, Suite B-1 in Monterey, California that received a Coronavirus-related PPP loan from the SBA of $25,440.00 in August, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Idaho First Bank
Clear Ridge, Inc in Monterey, CA received a Paycheck Protection Loan of $25,440 through Idaho First Bank, which was approved in August, 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 May, 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, Clear Ridge, Inc's 2019 payroll expenses are estimated to be at least $122,112.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $61,056 per employee1
Reported PPP Proceed Usage:
On the PPP application, Clear Ridge, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,440
Business Information - Clear Ridge, Inc in Monterey, CA
10 Harris Court, Suite B-1
Monterey, CA 93940
Lessors of Other Real Estate Property
NAICS code 531190
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Monterey
In the Monterey area, 3 businesses in the "Lessors of Other Real Estate Property" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 2) and received an average PPP loan of $54,399 (compared to this company's $25,440).
Similar Nearby Businesses Who Received PPP Funding:
Miller Sutter Investments Inc
Industry PPP Comparison Statistics
Nationwide, 16,619 businesses in the "Lessors of Other Real Estate Property" industry received a total of $806.44M 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 5 employees, 150% higher than Clear Ridge, Inc's reported 2 employees, and received an average PPP loan of $48,525, 91% higher than this company's loan of $25,440.
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Footnotes & Information
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