PPP Loan Data — Cooks On Fire, Riverside, CA
Cooks On Fire is a subchapter s corporation located at 1885 Iowa Ave in Riverside, California that received a Coronavirus-related PPP loan from the SBA of $25,100.00 in April, 2020.
The company has reported itself as an Asian female owned business, and employed at least two people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:East West Bank
Cooks On Fire in Riverside, CA received a Paycheck Protection Loan of $25,100 through East West 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 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, Cooks On Fire's 2019 payroll expenses are estimated to be at least $120,480.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,240 per employee1
Reported PPP Proceed Usage:
On the PPP application, Cooks On Fire reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,100
Business Information - Cooks On Fire in Riverside, CA
1885 Iowa Ave
Riverside, CA 92507
Home Furnishing Merchant Wholesalers
NAICS code 423220
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Female Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Riverside
In the Riverside area, 3 businesses in the "Home Furnishing Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 2) and received an average PPP loan of $54,052 (compared to this company's $25,100).
Similar Nearby Businesses Who Received PPP Funding:
J B Woodward Floors Inc
Cook Pro, Inc
Industry PPP Comparison Statistics
Nationwide, 5,114 businesses in the "Home Furnishing Merchant Wholesalers" industry received a total of $620.15M 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 11 employees, 450% higher than Cooks On Fire's reported 2 employees, and received an average PPP loan of $121,266, 383% higher than this company's loan of $25,100.
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Footnotes & Information
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