PPP Loan Data — Goforth & Marti, San Diego, CA
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
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.
Business Information - Goforth & Marti in San Diego, CA
110 W A St
San Diego, CA 92101
Office Furniture (except Wood) Manufacturing (NAICS code 337214)
Business Owner Demographics
Race / Ethnicity: ASIAN
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional 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.
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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