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PPP Loan Data — Heritage Distributing Company Inc.,
Downey, CA
Heritage Distributing Company Inc.
Entity: Subchapter S Corporation
Industry: Other Grocery and Related Products Merchant Wholesalers
Location: Downey, CA
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Heritage Distributing Company Inc. is a subchapter s corporation located at 7011 Stewart And Gray Rd in Downey, California that received a Coronavirus-related PPP loan from the SBA of $2,871,000.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
172Loan Approved:
2020-04-10Lender:
CITIZENS BUSINESS BANKHeritage Distributing Company Inc. in Downey, CA received a Paycheck Protection Loan of $2.87M through CITIZENS BUSINESS BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, Heritage Distributing Company Inc.'s total 2019 payroll expenses were approximately $13.78M in order to qualify for the PPP loan amount received.
Based on their reported 172 jobs retained, this equals an estimated average yearly compensation of $80,121 per employee1.
Business Information - Heritage Distributing Company Inc. in Downey, CA
7011 Stewart And Gray Rd
Downey, CA 90241
Business Industry
Other Grocery and Related Products Merchant Wholesalers (NAICS code 424490)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: CA-40Similar Companies near Downey
In the Downey area, 2 businesses in the "Other Grocery and Related Products Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 91 employees (compared to this company's 172) and received an average PPP loan of $1,476,573 (compared to this company's $2.87M).
Similar Nearby Businesses Who Received PPP Funding:
Honey Pacifica Company
Downey, CA
Industry PPP Comparison Statistics
Nationwide, 4,557 businesses in the "Other Grocery and Related Products Merchant Wholesalers" industry received a total of $667,706,204.00 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 14 employees, 92% lower than Heritage Distributing Company Inc.'s reported 172 employees, and received an average PPP loan of $146,523, 95% lower than this company's loan of $2.87M.
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, 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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