PPP Loan Data — Ernie Ball Inc, Coachella, CA
Ernie Ball Inc is a subchapter s corporation located at 53 973 Polk Street in Coachella, California that received a Coronavirus-related PPP loan from the SBA of $2,088,213.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 227 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:American Riviera Bank
Ernie Ball Inc in Coachella, CA received a Paycheck Protection Loan of $2.09M through American Riviera Bank, which was approved in April, 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, Ernie Ball Inc's 2019 payroll expenses are estimated to be at least $10.02M.
Based on their reported 227 jobs retained, this equals an estimated average yearly compensation of $44,156 per employee1
Reported PPP Proceed Usage:
On the PPP application, Ernie Ball Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,088,213
Business Information - Ernie Ball Inc in Coachella, CA
53 973 Polk Street
Coachella, CA 92236
Musical Instrument Manufacturing
NAICS code 339992
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Coachella
In the Coachella area, 2 businesses in the "Musical Instrument Manufacturing" industry received a PPP loan. These local businesses reported an average of 196 employees (compared to this company's 227) and received an average PPP loan of $1,564,671 (compared to this company's $2.09M).
Similar Nearby Businesses Who Received PPP Funding:
Paladar Manufacturing Inc
Industry PPP Comparison Statistics
Nationwide, 1,177 businesses in the "Musical Instrument Manufacturing" industry received a total of $120.05M 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 10 employees, 96% lower than Ernie Ball Inc's reported 227 employees, and received an average PPP loan of $101,996, 95% lower than this company's loan of $2.09M.
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Footnotes & Information
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