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PPP Loan Data — Goforth & Marti, San Diego, CA

SBA PPP loan data, payroll data, and salaries for Goforth & Marti
CA

Goforth & Marti

Entity: Corporation

Industry: Office Furniture (except Wood) Manufacturing

Location: San Diego, CA

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Goforth & Marti is a corporation located at 110 W A St in San Diego, California that received a Coronavirus-related PPP loan from the SBA of $3,281,900.00 in April, 2020.

The company has reported itself as an Asian male owned business, and employed at least 260 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$3.28M

Jobs Retained:

260

Loan Approved:

2020-04-05

Lender:

AMERICAN BUSINESS BANK

Goforth & Marti received a Paycheck Protection Loan of $3.28M through AMERICAN BUSINESS BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Goforth & Marti's total 2019 payroll expenses were approximately $15.75M in order to qualify for the PPP loan amount received.

Based on their reported 260 jobs retained, this equals an estimated average yearly compensation of $60,589 per employee1.

Because the loan received by Goforth & Marti is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Goforth & Marti in San Diego, CA

Goforth & Marti
110 W A St
San Diego, CA 92101

Business Industry

Office Furniture (except Wood) Manufacturing (NAICS code 337214)

Business Owner Demographics

Race / Ethnicity: ASIAN

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: CA-52

Industry PPP Comparison Statistics

Nationwide, 357 businesses in the "Office Furniture (except Wood) Manufacturing" industry received a total of $103,466,070.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 22 employees, 92% lower than Goforth & Marti's reported 260 employees, and received an average PPP loan of $289,821, 91% lower than this company's loan of $3.28M.

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.

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Footnotes & Information

1. 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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/goforth-and-marti-san-diego-ca