FederalPay.org
PPP Loan Data — Gino Morena Enterprises LLC,
South San Francisco, CA
Gino Morena Enterprises LLC
Entity: Limited Liability Company (LLC)
Industry: Beauty Salons
Location: South San Francisco, CA
Tweet This
•
Search All PPP Data
Gino Morena Enterprises LLC is a limited liability company (LLC) located at 111 Starlite St in South San Francisco, California that received a Coronavirus-related PPP loan from the SBA of $5,786,067.00 in May, 2020.
$
PPP Loan Information
Loan #6027437710
Loan Size:
Jobs Retained:
500Loan Approved:
2020-05-01Loan Status:
Paid in Full or ForgivenLender:
Bank of America, National AssociationGino Morena Enterprises LLC in South San Francisco, CA received a Paycheck Protection Loan of $5.79M through Bank of America, National Association, which was approved in May, 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 July, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Gino Morena Enterprises LLC's 2019 payroll expenses are estimated to be at least $27.77M.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $55,546 per employee1
Reported PPP Proceed Usage:
On the PPP application, Gino Morena Enterprises LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $5,786,067
Business Information - Gino Morena Enterprises LLC in South San Francisco, CA
111 Starlite St
South San Francisco, CA 94080
Business Industry:
Beauty Salons
NAICS code 812112
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Business Demographics
Business Age: New Business or 2 years or less
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Businesses Using Same Address:
There is one other business that received a PPP loan registered to the same address as Gino Morena Enterprises LLC.
Star Haircare Services Inc
Other Miscellaneous Durable Goods Merchant Wholesalers
Similar Companies near South San Francisco
In the South San Francisco area, 28 businesses in the "Beauty Salons" industry received a PPP loan. These local businesses reported an average of 20 employees (compared to this company's 500) and received an average PPP loan of $223,058 (compared to this company's $5.79M).
Similar Nearby Businesses Who Received PPP Funding:
Winnie Tan
S San Fran, CA
Alice To
South San Francisco, CA
Erlys
South San Francisco, CA
Erly's Shear Beauty
South San Francisco, CA
Natural Beauty Salon
South San Francisco, CA
Bon Bon Spa
South San Francisco, CA
DEE Luminous LLC
South San Francisco, CA
Antonia Cherolis
South San Francisco, CA
Beauty Queen
South San Francsico, CA
Industry PPP Comparison Statistics
Nationwide, 458,411 businesses in the "Beauty Salons" industry received a total of $8.57B in PPP loans. These businesses account for 4% 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, 100% lower than Gino Morena Enterprises LLC's reported 500 employees, and received an average PPP loan of $18,686, 100% lower than this company's loan of $5.79M.
FederalPay's PPP Information Policy
Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.
All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.
2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.
Have FederalPay.org's open data tools been valuable? Consider donating!