PPP Loan Data — Colosseum Athletics Corp, Compton, CA
Colosseum Athletics Corp
Location: Compton, CATweet This • Search All PPP Data
Colosseum Athletics Corp is a corporation located at 2400 S Wilmington Ave in Compton, California that received a Coronavirus-related PPP loan from the SBA of $1,546,400.00 in January, 2021.
The company has reported itself as an Asian male owned business, and employed at least 88 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of Hope
Colosseum Athletics Corp in Compton, CA received a Paycheck Protection Loan of $1.55M through Bank of Hope, which was approved in January, 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
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, Colosseum Athletics Corp's 2019 payroll expenses are estimated to be at least $7.42M.
Based on their reported 88 jobs retained, this equals an estimated average yearly compensation of $84,349 per employee1
Reported PPP Proceed Usage:
On the PPP application, Colosseum Athletics Corp reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,546,393
- Utilities: $1
Business Information - Colosseum Athletics Corp in Compton, CA
2400 S Wilmington Ave
Compton, CA 90220
Sporting and Recreational Goods and Supplies Merchant Wholesalers
NAICS code 423910
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 Compton
In the Compton area, 8 businesses in the "Sporting and Recreational Goods and Supplies Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 53 employees (compared to this company's 88) and received an average PPP loan of $510,052 (compared to this company's $1.55M).
Similar Nearby Businesses Who Received PPP Funding:
Rocket Fish Inc
Colosseum Athletics Corporation
Complete Gym Solutions LLC
Kung Hsue She, Inc
Industry PPP Comparison Statistics
Nationwide, 6,584 businesses in the "Sporting and Recreational Goods and Supplies Merchant Wholesalers" industry received a total of $632.92M 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, 89% lower than Colosseum Athletics Corp's reported 88 employees, and received an average PPP loan of $96,130, 94% lower than this company's loan of $1.55M.
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