PPP Loan Data — Frater Real Estate, Inc, Salinas, CA
Frater Real Estate, Inc is a subchapter s corporation located at 21144 Valle San Juan Dr. in Salinas, California that received a Coronavirus-related PPP loan from the SBA of $24,900.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Frater Real Estate, Inc in Salinas, CA received a Paycheck Protection Loan of $24,900 through Comerica Bank, which was approved in April, 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, Frater Real Estate, Inc's 2019 payroll expenses are estimated to be at least $119,520.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $39,840 per employee1
Reported PPP Proceed Usage:
On the PPP application, Frater Real Estate, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,900
Business Information - Frater Real Estate, Inc in Salinas, CA
21144 Valle San Juan Dr.
Salinas, CA 93907
Offices of Real Estate Agents and Brokers
NAICS code 531210
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Salinas
In the Salinas area, 33 businesses in the "Offices of Real Estate Agents and Brokers" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 3) and received an average PPP loan of $20,259 (compared to this company's $24,900).
Similar Nearby Businesses Who Received PPP Funding:
Cryder Realty, Inc
Albers Real Estate Investment Company
Real Time Realty Inc
Singh Real Estate
24 Travel Planet
Industry PPP Comparison Statistics
Nationwide, 255,794 businesses in the "Offices of Real Estate Agents and Brokers" industry received a total of $5.75B in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 2 employees, 33% lower than Frater Real Estate, Inc's reported 3 employees, and received an average PPP loan of $22,469, 10% lower than this company's loan of $24,900.
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Footnotes & Information
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