PPP Loan Data — Floor Coverings International Of La Jolla, San Diego, CA
Floor Coverings International Of La Jolla is a limited liability company (LLC) located at 7016 Convoy Ct in San Diego, California that received a Coronavirus-related PPP loan from the SBA of $25,176.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
Floor Coverings International Of La Jolla in San Diego, CA received a Paycheck Protection Loan of $25,176 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, Floor Coverings International Of La Jolla's 2019 payroll expenses are estimated to be at least $120,845.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,211 per employee1
Reported PPP Proceed Usage:
On the PPP application, Floor Coverings International Of La Jolla reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,176
Business Information - Floor Coverings International Of La Jolla in San Diego, CA
7016 Convoy Ct
San Diego, CA 92111
Floor Covering Stores
NAICS code 442210
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near San Diego
In the San Diego area, 4 businesses in the "Floor Covering Stores" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 4) and received an average PPP loan of $38,286 (compared to this company's $25,176).
Similar Nearby Businesses Who Received PPP Funding:
Bergens Hardwood Flooring, Inc
San Diego, CA
Unique Architectural Materials LLC
San Diego, CA
Peninsula Carpet Care Inc
San Diego, CA
Industry PPP Comparison Statistics
Nationwide, 8,871 businesses in the "Floor Covering Stores" industry received a total of $765.8M 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 9 employees, 125% higher than Floor Coverings International Of La Jolla's reported 4 employees, and received an average PPP loan of $86,327, 243% higher than this company's loan of $25,176.
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Footnotes & Information
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