PPP Loan Data — Forever Gifts LLC, Sun Valley, CA
Forever Gifts LLC is a limited liability company (LLC) located at 11003 Penrose St Ste F in Sun Valley, California that received a Coronavirus-related PPP loan from the SBA of $46,937.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
Forever Gifts LLC in Sun Valley, CA received a Paycheck Protection Loan of $46,937 through Bank of America, National Association, 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, Forever Gifts LLC's 2019 payroll expenses are estimated to be at least $225,298.
Based on their reported 8 jobs retained, this equals an estimated average yearly compensation of $28,162 per employee1
Reported PPP Proceed Usage:
On the PPP application, Forever Gifts LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,937
Business Information - Forever Gifts LLC in Sun Valley, CA
11003 Penrose St Ste F
Sun Valley, CA 91352
Gift, Novelty, and Souvenir Stores
NAICS code 453220
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 17,351 businesses in the "Gift, Novelty, and Souvenir Stores" industry received a total of $573.27M 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, 25% lower than Forever Gifts LLC's reported 8 employees, and received an average PPP loan of $33,040, 30% lower than this company's loan of $46,937.
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Footnotes & Information
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