PPP Loan Data — Frasco, Inc, Burbank, CA
Frasco, Inc is a corporation located at 215 W. Alameda Ave in Burbank, California that received a Coronavirus-related PPP loan from the SBA of $2,509,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Frasco, Inc in Burbank, CA received a Paycheck Protection Loan of $2.51M through Manufacturers 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 May, 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, Frasco, Inc's 2019 payroll expenses are estimated to be at least $12.04M.
Based on their reported 330 jobs retained, this equals an estimated average yearly compensation of $36,495 per employee1
Reported PPP Proceed Usage:
On the PPP application, Frasco, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,247,122
- Health Care: $261,878
Business Information - Frasco, Inc in Burbank, CA
215 W. Alameda Ave
Burbank, CA 91502
NAICS code 561611
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Burbank
In the Burbank area, 3 businesses in the "Investigation Services" industry received a PPP loan. These local businesses reported an average of 112 employees (compared to this company's 330) and received an average PPP loan of $853,333 (compared to this company's $2.51M).
Similar Nearby Businesses Who Received PPP Funding:
RJI Services, Inc
Industry PPP Comparison Statistics
Nationwide, 5,053 businesses in the "Investigation Services" industry received a total of $288.88M 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 7 employees, 98% lower than Frasco, Inc's reported 330 employees, and received an average PPP loan of $57,171, 98% lower than this company's loan of $2.51M.
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Footnotes & Information
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