PPP Loan Data — Direct Cargo Logistics Inc, Fontana, CA
Direct Cargo Logistics Inc is a corporation located at 14801 Slover Ave in Fontana, California that received a Coronavirus-related PPP loan from the SBA of $25,285.00 in May, 2020.
The company has reported itself as a male owned business, and employed at least fourteen people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
Direct Cargo Logistics Inc in Fontana, CA received a Paycheck Protection Loan of $25,285 through Bank of America, 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, Direct Cargo Logistics Inc's 2019 payroll expenses are estimated to be at least $121,368.
Based on their reported 14 jobs retained, this equals an estimated average yearly compensation of $8,669 per employee1
Reported PPP Proceed Usage:
On the PPP application, Direct Cargo Logistics Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,285
Business Information - Direct Cargo Logistics Inc in Fontana, CA
14801 Slover Ave
Fontana, CA 92337
All Other Support Activities for Transportation
NAICS code 488999
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Fontana
In the Fontana area, 29 businesses in the "All Other Support Activities for Transportation" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 14) and received an average PPP loan of $30,327 (compared to this company's $25,285).
Similar Nearby Businesses Who Received PPP Funding:
Ricardo Nique Figueroa
CK Freight Specialist Inc
American Auto Transport, LLC
Jon Haywood III
C Guerrero Transportation
Lima Freight Solutions Inc
Connect America Transportation Inc
Industry PPP Comparison Statistics
Nationwide, 18,826 businesses in the "All Other Support Activities for Transportation" industry received a total of $765.1M 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 6 employees, 57% lower than Direct Cargo Logistics Inc's reported 14 employees, and received an average PPP loan of $40,641, 61% higher than this company's loan of $25,285.
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Footnotes & Information
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