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PPP Loan Data — Gino Rinaldi Inc, Wastonville, CA

SBA PPP loan data, payroll data, and salaries for Gino Rinaldi Inc
CA

Gino Rinaldi Inc

Entity: Subchapter S Corporation

Industry: Tile and Terrazzo Contractors

Location: Wastonville, CA

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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 #4399577207

Loan Size:

$1.53M

Jobs Retained:

95

Loan Approved:

2020-04-27

Loan Status:

Paid in Full or Forgiven

Lender:

Mechanics Bank

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

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 More
Understanding 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 More

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

Gino Rinaldi Inc
51 Fremont St
Wastonville, CA 95076

Business Industry:
Tile and Terrazzo Contractors
NAICS code 238340

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: N

Rural / Urban: Urban

Santa Cruz County, CA — SBA Office 0912 — Congressional District: CA-20

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

$38,505 PPP Loan

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.

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.

Search FederalPay's Full PPP Loan Database

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.


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Source: www.federalpay.org/paycheck-protection-program/gino-rinaldi-inc-wastonville-ca