PPP Loan Data — Coalinga Sandhu Inc, Coalinga, CA
Coalinga Sandhu Inc is a corporation located at 193 Polk St in Coalinga, California that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020. This business is a Subway franchise.
The company has reported itself as an Asian male owned business, and employed at least eight people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Central Valley Community Bank
Coalinga Sandhu Inc in Coalinga, CA received a Paycheck Protection Loan of $25,000 through Central Valley Community 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 April, 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, Coalinga Sandhu Inc's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 8 jobs retained, this equals an estimated average yearly compensation of $15,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Coalinga Sandhu Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Coalinga Sandhu Inc in Coalinga, CA
193 Polk St
Coalinga, CA 93210
NAICS code 722513
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Coalinga
In the Coalinga area, 6 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 10 employees (compared to this company's 8) and received an average PPP loan of $40,690 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
California Dining California Cafe
Coalinga Me-N-Ed's Pizza
Brian Horn Lim
Melmis Co., Inc
Industry PPP Comparison Statistics
Nationwide, 137,629 businesses in the "Limited-Service Restaurants" industry received a total of $13.9B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 21 employees, 163% higher than Coalinga Sandhu Inc's reported 8 employees, and received an average PPP loan of $100,980, 304% higher than this company's loan of $25,000.
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Footnotes & Information
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