PPP Loan Data — Fatco Group LLC, Chico, CA
Fatco Group LLC is a limited liability company (LLC) located at 2700 Hegan Ln Suite 174 in Chico, California that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First Home Bank
Fatco Group LLC in Chico, CA received a Paycheck Protection Loan of $25,000 through First Home 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, Fatco Group LLC's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Fatco Group LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Fatco Group LLC in Chico, CA
2700 Hegan Ln Suite 174
Chico, CA 95928
Cosmetics, Beauty Supplies, and Perfume Stores
NAICS code 446120
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Chico
In the Chico area, 2 businesses in the "Cosmetics, Beauty Supplies, and Perfume Stores" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 2) and received an average PPP loan of $15,162 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 42,410 businesses in the "Cosmetics, Beauty Supplies, and Perfume Stores" industry received a total of $959.22M 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 3 employees, 50% higher than Fatco Group LLC's reported 2 employees, and received an average PPP loan of $22,618, 10% lower than this company's loan of $25,000.
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Footnotes & Information
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