PPP Loan Data — Fairchild Property Management, LLC, Monterey, CA
Fairchild Property Management, LLC is a limited liability company (LLC) located at 615 Abrego St in Monterey, California that received a Coronavirus-related PPP loan from the SBA of $24,900.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least three people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:1st Capital Bank
Fairchild Property Management, LLC in Monterey, CA received a Paycheck Protection Loan of $24,900 through 1st Capital Bank, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in April, 2021.
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, Fairchild Property Management, LLC's 2019 payroll expenses are estimated to be at least $119,520.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $39,840 per employee1
Reported PPP Proceed Usage:
On the PPP application, Fairchild Property Management, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,900
Business Information - Fairchild Property Management, LLC in Monterey, CA
615 Abrego St
Monterey, CA 93940
Office Administrative Services
NAICS code 561110
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 Monterey
In the Monterey area, 3 businesses in the "Office Administrative Services" industry received a PPP loan. These local businesses reported an average of 13 employees (compared to this company's 3) and received an average PPP loan of $202,650 (compared to this company's $24,900).
Similar Nearby Businesses Who Received PPP Funding:
New Directions Healthcare
Buaya Pacific Management LLC
Industry PPP Comparison Statistics
Nationwide, 44,947 businesses in the "Office Administrative Services" industry received a total of $2.36B 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, 100% higher than Fairchild Property Management, LLC's reported 3 employees, and received an average PPP loan of $52,468, 111% higher than this company's loan of $24,900.
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Footnotes & Information
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