PPP Loan Data — Gino Rinaldi Inc, Wastonville, CA
Gino Rinaldi Inc is a subchapter s corporation located at 51 Fremont St in Wastonville, California that received a Coronavirus-related PPP loan from the SBA of $1,525,035.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 95 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Gino Rinaldi Inc in Wastonville, CA received a Paycheck Protection Loan of $1.53M through Mechanics 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, Gino Rinaldi Inc's 2019 payroll expenses are estimated to be at least $7.32M.
Based on their reported 95 jobs retained, this equals an estimated average yearly compensation of $77,054 per employee1
Reported PPP Proceed Usage:
On the PPP application, Gino Rinaldi Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,525,035
Business Information - Gino Rinaldi Inc in Wastonville, CA
51 Fremont St
Wastonville, CA 95076
Tile and Terrazzo Contractors
NAICS code 238340
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Wastonville
In the Wastonville area, 2 businesses in the "Tile and Terrazzo Contractors" industry received a PPP loan. These local businesses reported an average of 50 employees (compared to this company's 95) and received an average PPP loan of $781,770 (compared to this company's $1.53M).
Similar Nearby Businesses Who Received PPP Funding:
Bellari Tile & Stone Company
Royal Oaks, CA
Industry PPP Comparison Statistics
Nationwide, 8,827 businesses in the "Tile and Terrazzo Contractors" industry received a total of $603.25M 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, 93% lower than Gino Rinaldi Inc's reported 95 employees, and received an average PPP loan of $68,341, 96% lower than this company's loan of $1.53M.
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Footnotes & Information
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