PPP Loan Data — Granite Solutions Groupe, Inc, San Francisco, CA

Granite Solutions Groupe, Inc is a corporation located at 235 Montgomery St in San Francisco, California that received a Coronavirus-related PPP loan from the SBA of $4,121,912.00 in May, 2020.

The company has reported itself as a male owned business, and employed at least 190 people during the applicable loan loan period.

$ PPP Loan Information

Loan #7369287707

Granite Solutions Groupe, Inc in San Francisco, CA received a Paycheck Protection Loan of $4.12M through U.S. Bank, National Association, which was approved in May, 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 July, 2021.

The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 190 jobs reported as retained on the PPP application³. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.

The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 198. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

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, Granite Solutions Groupe, Inc's 2019 payroll expenses are estimated to be at least $19.79M (not accounting for salary amounts > $100k).

Because the 190 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.

Reported PPP Proceed Usage:

On the PPP application, Granite Solutions Groupe, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

• Payroll: $4,121,912

Business Information - Granite Solutions Groupe, Inc in San Francisco, CA

Similar Companies near San Francisco

In the San Francisco area, 17 businesses in the "Executive Search Services" industry received a PPP loan. These local businesses reported an average of 20 employees (compared to this company's 190) and received an average PPP loan of $413,909 (compared to this company's $4.12M).

Industry PPP Comparison Statistics

Nationwide, 6,992 businesses in the "Executive Search Services" industry received a total of $763.41M 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 10 employees, 95% lower than Granite Solutions Groupe, Inc's reported 190 employees, and received an average PPP loan of $109,183, 97% lower than this company's loan of $4.12M.