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PPP Loan Data — Falcon Trading Company,
Royal Oaks, CA
Falcon Trading Company
Entity: Corporation
Industry: General Line Grocery Merchant Wholesalers
Location: Royal Oaks, CA
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Falcon Trading Company is a corporation located at 423 Salinas Rd in Royal Oaks, California that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in March, 2021.
The company has reported itself as a White male owned business, and employed at least 208 people during the applicable loan loan period.
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PPP Loan Information
Loan #3076328602
Loan Size:
Jobs Retained:
208Loan Approved:
2021-03-16Loan Status:
Active Un-DisbursedLender:
Bank of America, National AssociationFalcon Trading Company in Royal Oaks, CA received a Paycheck Protection Loan of $2M through Bank of America, National Association, which was approved in March, 2021.
While this loan has been approved by the Small Business Administration, the lender has not reported to the SBA that the loan funds were disbursed to the borrower. According to SBA records, a total of $2M in approved PPP funding has not been disbursed. The loan's status was last updated by the SBA in March, 2021.
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, Falcon Trading Company's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 208 jobs retained, this equals an estimated average yearly compensation of $46,154 per employee1
Reported PPP Proceed Usage:
On the PPP application, Falcon Trading Company reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,998
- Utilities: $1
Business Information - Falcon Trading Company in Royal Oaks, CA
423 Salinas Rd
Royal Oaks, CA 95076
Business Industry:
General Line Grocery Merchant Wholesalers
NAICS code 424410
Business Owner Demographics
Race: White
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: N
Rural / Urban: Urban
Similar Companies near Royal Oaks
In the Royal Oaks area, 3 businesses in the "General Line Grocery Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 95 employees (compared to this company's 208) and received an average PPP loan of $916,193 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Masheesh Taters
Watsonville, CA
Better Brands Food Products Inc
Watsonville, CA
Industry PPP Comparison Statistics
Nationwide, 5,844 businesses in the "General Line Grocery Merchant Wholesalers" industry received a total of $735.65M 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 14 employees, 93% lower than Falcon Trading Company's reported 208 employees, and received an average PPP loan of $125,882, 94% lower than this company's loan of $2M.
Falcon Trading Company
Entity: Corporation
Industry: All Other Miscellaneous Food Manufacturing
Location: Royal Oaks, CA
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Falcon Trading Company is a corporation located at 423 Salinas Rd in Royal Oaks, California that received a Coronavirus-related PPP loan from the SBA of $3,144,947.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 216 people during the applicable loan loan period.
$
PPP Loan Information
Loan #2153527204
Loan Size:
Jobs Retained:
216Loan Approved:
2020-04-15Loan Status:
Ongoing LoanLender:
Bank of America, National AssociationFalcon Trading Company in Royal Oaks, CA received a Paycheck Protection Loan of $3.14M through Bank of America, National Association, 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, Falcon Trading Company's 2019 payroll expenses are estimated to be at least $15.1M.
Based on their reported 216 jobs retained, this equals an estimated average yearly compensation of $69,888 per employee1
Reported PPP Proceed Usage:
On the PPP application, Falcon Trading Company reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,144,947
Business Information - Falcon Trading Company in Royal Oaks, CA
423 Salinas Rd
Royal Oaks, CA 95076
Business Industry:
All Other Miscellaneous Food Manufacturing
NAICS code 311999
Business Owner Demographics
Race: White
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: New Business or 2 years or less
LMI Zone: Y
HUBZone: N
Rural / Urban: Urban
Similar Companies near Royal Oaks
In the Royal Oaks area, 6 businesses in the "All Other Miscellaneous Food Manufacturing" industry received a PPP loan. These local businesses reported an average of 54 employees (compared to this company's 216) and received an average PPP loan of $689,164 (compared to this company's $3.14M).
Similar Nearby Businesses Who Received PPP Funding:
The Meltzer Company
Watsonville, CA
Laselva Beach Spice Company Inc
Watsonville, CA
Jo-Mar Laboratory And Marketing Corp
Watsonville, CA
Omar Alyafei
Royal Oaks, CA
H.a. Rider And Sons
Watsonville, CA
Industry PPP Comparison Statistics
Nationwide, 3,447 businesses in the "All Other Miscellaneous Food Manufacturing" industry received a total of $518.24M 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 17 employees, 92% lower than Falcon Trading Company's reported 216 employees, and received an average PPP loan of $150,344, 95% lower than this company's loan of $3.14M.
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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