FederalPay.org
PPP Loan Data — Crown Forwarding Inc,
Huntington Beach, CA
Crown Forwarding Inc
Entity: Corporation
Industry: Freight Transportation Arrangement
Location: Huntington Beach, CA
Tweet This
•
Search All PPP Data
Crown Forwarding Inc is a corporation located at 5811 Mcfadden Ave Unit 13 in Huntington Beach, California that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in June, 2021.
$
PPP Loan Information
Loan #1180779104
Loan Size:
Jobs Retained:
119Loan Approved:
2021-06-30Loan Status:
Ongoing LoanLender:
Bank of the WestCrown Forwarding Inc in Huntington Beach, CA received a Paycheck Protection Loan of $2M through Bank of the West, which was approved in June, 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
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Crown Forwarding Inc's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 119 jobs retained, this equals an estimated average yearly compensation of $80,672 per employee1
Reported PPP Proceed Usage:
On the PPP application, Crown Forwarding Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,995
- Utilities: $1
Business Information - Crown Forwarding Inc in Huntington Beach, CA
5811 Mcfadden Ave Unit 13
Huntington Beach, CA 92649
Business Industry:
Freight Transportation Arrangement
NAICS code 488510
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Huntington Beach
In the Huntington Beach area, 13 businesses in the "Freight Transportation Arrangement" industry received a PPP loan. These local businesses reported an average of 39 employees (compared to this company's 119) and received an average PPP loan of $582,874 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
BRV Inc
Huntington Beach, CA
Line Drive Trucking, Inc
Huntington Beach, CA
Sho-Air International, Inc
Huntington Beach, CA
Thuy Le
Huntington Beach, CA
Line Drive Texas, Inc
Huntington Beach, CA
Wind Energy Transport, LLC
Huntington Beach, CA
Straight Line Transport Inc
Huntington Beach, CA
Air Ocean Pro's, LLC
Huntington Beach, CA
Industry PPP Comparison Statistics
Nationwide, 25,521 businesses in the "Freight Transportation Arrangement" industry received a total of $1.88B 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 7 employees, 94% lower than Crown Forwarding Inc's reported 119 employees, and received an average PPP loan of $73,480, 96% lower than this company's loan of $2M.
Crown Forwarding, Inc
Entity: Corporation
Industry: Freight Transportation Arrangement
Location: Huntington Beach, CA
Tweet This
•
Search All PPP Data
Crown Forwarding, Inc is a corporation located at 5252 Argosy Dr in Huntington Beach, California that received a Coronavirus-related PPP loan from the SBA of $2,652,807.00 in April, 2020.
$
PPP Loan Information
Loan #7566967306
Loan Size:
Jobs Retained:
151Loan Approved:
2020-04-30Loan Status:
Ongoing LoanLender:
Bank of the WestCrown Forwarding, Inc in Huntington Beach, CA received a Paycheck Protection Loan of $2.65M through Bank of the West, which was approved in April, 2020.
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
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Crown Forwarding, Inc's 2019 payroll expenses are estimated to be at least $12.73M.
Based on their reported 151 jobs retained, this equals an estimated average yearly compensation of $84,328 per employee1
Reported PPP Proceed Usage:
On the PPP application, Crown Forwarding, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,652,807
Business Information - Crown Forwarding, Inc in Huntington Beach, CA
5252 Argosy Dr
Huntington Beach, CA 92649
Business Industry:
Freight Transportation Arrangement
NAICS code 488510
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: New Business or 2 years or less
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Similar Companies near Huntington Beach
In the Huntington Beach area, 13 businesses in the "Freight Transportation Arrangement" industry received a PPP loan. These local businesses reported an average of 39 employees (compared to this company's 151) and received an average PPP loan of $582,874 (compared to this company's $2.65M).
Similar Nearby Businesses Who Received PPP Funding:
BRV Inc
Huntington Beach, CA
Line Drive Trucking, Inc
Huntington Beach, CA
Sho-Air International, Inc
Huntington Beach, CA
Thuy Le
Huntington Beach, CA
Line Drive Texas, Inc
Huntington Beach, CA
Wind Energy Transport, LLC
Huntington Beach, CA
Straight Line Transport Inc
Huntington Beach, CA
Air Ocean Pro's, LLC
Huntington Beach, CA
Industry PPP Comparison Statistics
Nationwide, 25,521 businesses in the "Freight Transportation Arrangement" industry received a total of $1.88B 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 7 employees, 95% lower than Crown Forwarding, Inc's reported 151 employees, and received an average PPP loan of $73,480, 97% lower than this company's loan of $2.65M.
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.
Footnotes & Information
1. Estimations for informational purposes only. 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.
Have FederalPay.org's open data tools been valuable? Consider donating!