PPP Loan Data — Hanford Arc, Petaluma, CA
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Hanford Arc is a corporation located at 765 Baywood Dr Ste 237 in Petaluma, California that received a Coronavirus-related PPP loan from the SBA of $1,812,700.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First Republic Bank
Hanford Arc in Petaluma, CA received a Paycheck Protection Loan of $1.81M through First Republic 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 April, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
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, Hanford Arc's 2019 payroll expenses are estimated to be at least $8.7M.
Based on their reported 90 jobs retained, this equals an estimated average yearly compensation of $96,677 per employee1
Reported PPP Proceed Usage:
On the PPP application, Hanford Arc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,812,700
Business Information - Hanford Arc in Petaluma, CA
765 Baywood Dr Ste 237
Petaluma, CA 94954
Commercial and Institutional Building Construction
NAICS code 236220
Business Owner Demographics
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Petaluma
In the Petaluma area, 8 businesses in the "Commercial and Institutional Building Construction" industry received a PPP loan. These local businesses reported an average of 20 employees (compared to this company's 90) and received an average PPP loan of $322,505 (compared to this company's $1.81M).
Similar Nearby Businesses Who Received PPP Funding:
C D K Builders
Desurra Construction, Inc
MBT Builders Inc
Sticks & Stones Construction Inc
Incom Mechanical Inc
Industry PPP Comparison Statistics
Nationwide, 78,873 businesses in the "Commercial and Institutional Building Construction" industry received a total of $12.41B 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 12 employees, 87% lower than Hanford Arc's reported 90 employees, and received an average PPP loan of $157,325, 91% lower than this company's loan of $1.81M.
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Footnotes & Information
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