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PPP Loan Data — Heritage Distributing Company Inc., Downey, CA

SBA PPP loan data, payroll data, and salaries for Heritage Distributing Company Inc.
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:

$2.87M

Jobs Retained:

172

Loan Approved:

2020-04-10

Lender:

CITIZENS BUSINESS BANK

Heritage 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.

Because the loan received by Heritage Distributing Company Inc. 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 - Heritage Distributing Company Inc. in Downey, CA

Heritage Distributing Company Inc.
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-40

Similar 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

$82,146 PPP Loan

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.

Search FederalPay's Full PPP Loan Database

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/heritage-distributing-company-inc-downey-ca