PPP Loan Data — Corovan Corporation, Poway, CA
Corovan Corporation is a corporation located at 12302 Kerran St in Poway, California that received a Coronavirus-related PPP loan from the SBA of $3,960,400.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 193 people during the applicable loan loan period.
$ PPP Loan Information
Lender:BANK OF SOUTHERN CALIFORNIA, NATIONAL ASSOCIATION
Corovan Corporation received a Paycheck Protection Loan of $3.96M through BANK OF SOUTHERN CALIFORNIA, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Corovan Corporation's total 2019 payroll expenses were approximately $19.01M in order to qualify for the PPP loan amount received.
Based on their reported 193 jobs retained, this equals an estimated average yearly compensation of $98,497 per employee1.
Business Information - Corovan Corporation in Poway, CA
12302 Kerran St
Poway, CA 92064
Used Household and Office Goods Moving (NAICS code 484210)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional District: CA-52
Similar Companies near Poway
In the Poway area, 4 businesses in the "Used Household and Office Goods Moving" industry received a PPP loan. These local businesses reported an average of 67 employees (compared to this company's 193) and received an average PPP loan of $1,202,880 (compared to this company's $3.96M).
Similar Nearby Businesses Who Received PPP Funding:
Oakley Relocation LLC
Atlas Transfer & Storage Co.
K & D Installation Inc
Industry PPP Comparison Statistics
Nationwide, 4,016 businesses in the "Used Household and Office Goods Moving" industry received a total of $552,575,618.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 14 employees, 93% lower than Corovan Corporation's reported 193 employees, and received an average PPP loan of $137,594, 97% lower than this company's loan of $3.96M.
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.
Footnotes & Information
1. 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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