PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Hanlees Fremont Inc, Fremont, CA

ALERT: There are 2 PPP loans for a total of $904,500 in our database for businesses with the name "Hanlees Fremont Inc" in Fremont, CA. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Hanlees Fremont Inc

FRANCHISE

CA

Hanlees Fremont Inc

Entity: Subchapter S Corporation

Industry: New Car Dealers

Franchise: Hyundai Motor America - Dealer Sales and Service Agreement

Location: Fremont, CA

Search All PPP Data

Hanlees Fremont Inc is a subchapter s corporation located at 43690 Auto Mall Cir in Fremont, California that received a Coronavirus-related PPP loan from the SBA of $452,250.00 in March, 2021. This business is a Hyundai Motor America - Dealer Sales and Service Agreement franchise.

$ PPP Loan Information
Loan #8169698610

Loan Size:

$452,250

Jobs Retained:

26

Loan Approved:

2021-03-24

Loan Status:

Paid in Full or Forgiven

Lender:

JPMorgan Chase Bank, National Association

Hanlees Fremont Inc in Fremont, CA received a Paycheck Protection Loan of $452,250 through JPMorgan Chase Bank, National Association, which was approved in March, 2021.

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 November, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Hanlees Fremont Inc's 2019 payroll expenses are estimated to be at least $2.17M.

Based on their reported 26 jobs retained, this equals an estimated average yearly compensation of $83,492 per employee1

Reported PPP Proceed Usage:

On the PPP application, Hanlees Fremont Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $452,247
  • Utilities: $1

Business Information - Hanlees Fremont Inc in Fremont, CA

Hanlees Fremont Inc
43690 Auto Mall Cir
Fremont, CA 94538

Business Industry:
New Car Dealers
NAICS code 441110

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Alameda County, CA — SBA Office 0912 — Congressional District: CA-17

Similar Companies near Fremont

In the Fremont area, 13 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 76 employees (compared to this company's 26) and received an average PPP loan of $1,017,048 (compared to this company's $452,250).

Industry PPP Comparison Statistics

Nationwide, 19,844 businesses in the "New Car Dealers" industry received a total of $12.31B 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 52 employees, 100% higher than Hanlees Fremont Inc's reported 26 employees, and received an average PPP loan of $620,298, 37% higher than this company's loan of $452,250.

SBA PPP loan data, payroll data, and salaries for Hanlees Fremont Inc

FRANCHISE

CA

Hanlees Fremont Inc

Entity: Subchapter S Corporation

Industry: New Car Dealers

Franchise: Hyundai Motor America - Dealer Sales and Service Agreement

Location: Fremont, CA

Search All PPP Data

Hanlees Fremont Inc is a subchapter s corporation located at 43690 Auto Mall Circle 0.0 in Fremont, California that received a Coronavirus-related PPP loan from the SBA of $452,250.00 in April, 2020. This business is a Hyundai Motor America - Dealer Sales and Service Agreement franchise.

$ PPP Loan Information
Loan #1012717106

Loan Size:

$452,250

Jobs Retained:

24

Loan Approved:

2020-04-09

Loan Status:

Paid in Full or Forgiven

Lender:

JPMorgan Chase Bank, National Association

Hanlees Fremont Inc in Fremont, CA received a Paycheck Protection Loan of $452,250 through JPMorgan Chase Bank, National Association, 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 August, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Hanlees Fremont Inc's 2019 payroll expenses are estimated to be at least $2.17M.

Based on their reported 24 jobs retained, this equals an estimated average yearly compensation of $90,450 per employee1

Reported PPP Proceed Usage:

On the PPP application, Hanlees Fremont Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $340,408
  • Utilities: $14,352
  • Rent: $72,000
  • Health Care: $25,490

Business Information - Hanlees Fremont Inc in Fremont, CA

Hanlees Fremont Inc
43690 Auto Mall Circle 0.0
Fremont, CA 94538

Business Industry:
New Car Dealers
NAICS code 441110

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Alameda County, CA — SBA Office 0912 — Congressional District: CA-17

Similar Companies near Fremont

In the Fremont area, 13 businesses in the "New Car Dealers" industry received a PPP loan. These local businesses reported an average of 76 employees (compared to this company's 24) and received an average PPP loan of $1,017,048 (compared to this company's $452,250).

Industry PPP Comparison Statistics

Nationwide, 19,844 businesses in the "New Car Dealers" industry received a total of $12.31B 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 52 employees, 117% higher than Hanlees Fremont Inc's reported 24 employees, and received an average PPP loan of $620,298, 37% higher than this company's loan of $452,250.

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. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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/hanlees-fremont-inc-fremont-ca