PPP Loan Data — Del Mar Food Products Corporation, Watsonville, CA
Del Mar Food Products Corporation is a corporation located at 1720 West Beach Road in Watsonville, California that received a Coronavirus-related PPP loan from the SBA of $2,084,408.00 in May, 2020.
The company has reported itself as a male owned business, and employed at least 316 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Wells Fargo Bank, National Association
Del Mar Food Products Corporation in Watsonville, CA received a Paycheck Protection Loan of $2.08M through Wells Fargo Bank, National Association, which was approved in May, 2020.
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, Del Mar Food Products Corporation's 2019 payroll expenses are estimated to be at least $10.01M.
Based on their reported 316 jobs retained, this equals an estimated average yearly compensation of $31,662 per employee1
Reported PPP Proceed Usage:
On the PPP application, Del Mar Food Products Corporation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,084,408
Business Information - Del Mar Food Products Corporation in Watsonville, CA
1720 West Beach Road
Watsonville, CA 95076
Fruit and Vegetable Canning
NAICS code 311421
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 486 businesses in the "Fruit and Vegetable Canning" industry received a total of $104.37M 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 22 employees, 93% lower than Del Mar Food Products Corporation's reported 316 employees, and received an average PPP loan of $214,763, 90% lower than this company's loan of $2.08M.
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.
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