PPP Loan Data — Heritage Plastering Inc, Placentia, CA
Heritage Plastering Inc
Location: Placentia, CATweet This • Search All PPP Data
Heritage Plastering Inc is a corporation located at 930 Lawrence St. #b in Placentia, California that received a Coronavirus-related PPP loan from the SBA of $1,677,500.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 325 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of Southern California, National Association
Heritage Plastering Inc in Placentia, CA received a Paycheck Protection Loan of $1.68M through Bank of Southern California, National Association, which was approved in April, 2020.
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, Heritage Plastering Inc's 2019 payroll expenses are estimated to be at least $8.05M.
Based on their reported 325 jobs retained, this equals an estimated average yearly compensation of $24,775 per employee1
Reported PPP Proceed Usage:
On the PPP application, Heritage Plastering Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,677,500
Business Information - Heritage Plastering Inc in Placentia, CA
930 Lawrence St. #b
Placentia, CA 92870
New Multifamily Housing Construction (except For-Sale Builders)
NAICS code 236116
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 13,259 businesses in the "New Multifamily Housing Construction (except For-Sale Builders)" industry received a total of $1.11B 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 8 employees, 98% lower than Heritage Plastering Inc's reported 325 employees, and received an average PPP loan of $83,412, 95% lower than this company's loan of $1.68M.
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Footnotes & Information
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