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PPP Loan Data — Golden West Diamond Corp., Tustin, CA

SBA PPP loan data, payroll data, and salaries for Golden West Diamond Corp.
CA

Golden West Diamond Corp.

Entity: Corporation

Industry: Jewelry Stores

Location: Tustin, CA

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Golden West Diamond Corp. is a corporation located at 15732 Tustin Village Way in Tustin, California that received a Coronavirus-related PPP loan from the SBA of $2,462,775.00 in May, 2020.

$ PPP Loan Information

Loan Size:

$2.46M

Jobs Retained:

242

Loan Approved:

2020-05-01

Lender:

BANK OF AMERICA, NATIONAL ASSOCIATION

Golden West Diamond Corp. received a Paycheck Protection Loan of $2.46M through BANK OF AMERICA, NATIONAL ASSOCIATION, which was approved in May, 2020.

Based on standard PPP eligibility rules, Golden West Diamond Corp.'s total 2019 payroll expenses were approximately $11.82M in order to qualify for the PPP loan amount received.

Based on their reported 242 jobs retained, this equals an estimated average yearly compensation of $48,848 per employee1.

Because the loan received by Golden West Diamond Corp. 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 - Golden West Diamond Corp. in Tustin, CA

Golden West Diamond Corp.
15732 Tustin Village Way
Tustin, CA 92780

Business Industry

Jewelry Stores (NAICS code 448310)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: CA-45

Similar Companies near Tustin

In the Tustin area, 8 businesses in the "Jewelry Stores" industry received a PPP loan. These local businesses reported an average of 32 employees (compared to this company's 242) and received an average PPP loan of $322,068 (compared to this company's $2.46M).

Industry PPP Comparison Statistics

Nationwide, 12,136 businesses in the "Jewelry Stores" industry received a total of $578,593,395.00 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 5 employees, 98% lower than Golden West Diamond Corp.'s reported 242 employees, and received an average PPP loan of $47,676, 98% lower than this company's loan of $2.46M.

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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Source: www.federalpay.org/paycheck-protection-program/golden-west-diamond-corp-tustin-ca