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PPP Loan Data — Cotti Foods California Inc, Rancho Santa Margarita, CA

SBA PPP loan data, payroll data, and salaries for Cotti Foods California Inc
CA

Cotti Foods California Inc

Entity: Subchapter S Corporation

Industry: Limited-Service Restaurants

Location: Rancho Santa Margarita, CA

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Cotti Foods California Inc is a subchapter s corporation located at 29801 Santa Margarita Pkwy in Rancho Santa Margarita, California that received a Coronavirus-related PPP loan from the SBA of $5,161,513.00 in April, 2020.

The company has reported itself as a White female owned business, and employed at least 500 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$5.16M

Jobs Retained:

500

Loan Approved:

2020-04-08

Lender:

THE HUNTINGTON NATIONAL BANK

Cotti Foods California Inc received a Paycheck Protection Loan of $5.16M through THE HUNTINGTON NATIONAL BANK, which was approved in April, 2020.

2019 Payroll Estimations based On PPP Amount:

Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 0.

Based on standard PPP eligibility rules, Cotti Foods California Inc's total 2019 payroll expenses were approximately $24.78M in order to qualify for the PPP loan amount received.

Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $49,551 per employee1.

Because the loan received by Cotti Foods California Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Cotti Foods California Inc in Rancho Santa Margarita, CA

Cotti Foods California Inc
29801 Santa Margarita Pkwy
Rancho Santa Margarita, CA 92688

Business Industry

Limited-Service Restaurants (NAICS code 722513)

Business Owner Demographics

Race / Ethnicity: WHITE

Gender: FEMALE OWNED

Veteran Status: NON-VETERAN

Congressional District: CA-45

Similar Companies near Rancho Santa Margarita

In the Rancho Santa Margarita area, 16 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 182 employees (compared to this company's 500) and received an average PPP loan of $1,598,012 (compared to this company's $5.16M).

Industry PPP Comparison Statistics

Nationwide, 79,996 businesses in the "Limited-Service Restaurants" industry received a total of $9,671,819,152.00 in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 2% of the total PPP funding allocated.

PPP recipients in this industry report an average of 23 employees, 95% lower than Cotti Foods California Inc's reported 500 employees, and received an average PPP loan of $120,904, 98% lower than this company's loan of $5.16M.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

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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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Source: www.federalpay.org/paycheck-protection-program/cotti-foods-california-inc-rancho-santa-margarita-ca