PPP Loan Data — Ho's Mandarin Imp.& Exp. Inc, City Of Industry, CA
Ho's Mandarin Imp.& Exp. Inc is a corporation located at 14436 Valley Blvd in City Of Industry, California that received a Coronavirus-related PPP loan from the SBA of $24,892.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
Ho's Mandarin Imp.& Exp. Inc in City Of Industry, CA received a Paycheck Protection Loan of $24,892 through Bank of America, National Association, which was approved in April, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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, Ho's Mandarin Imp.& Exp. Inc's 2019 payroll expenses are estimated to be at least $119,482.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $29,871 per employee1
Reported PPP Proceed Usage:
On the PPP application, Ho's Mandarin Imp.& Exp. Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,892
Business Information - Ho's Mandarin Imp.& Exp. Inc in City Of Industry, CA
14436 Valley Blvd
City Of Industry, CA 91746
NAICS code 448310
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near City Of Industry
In the City Of Industry area, 6 businesses in the "Jewelry Stores" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 4) and received an average PPP loan of $6,926 (compared to this company's $24,892).
Similar Nearby Businesses Who Received PPP Funding:
Hacienda Heights, CA
La Puente, CA
City Of Industry, CA
Hacienda Heights, CA
Industry PPP Comparison Statistics
Nationwide, 22,187 businesses in the "Jewelry Stores" industry received a total of $956.02M 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 5 employees, 25% higher than Ho's Mandarin Imp.& Exp. Inc's reported 4 employees, and received an average PPP loan of $43,089, 73% higher than this company's loan of $24,892.
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Footnotes & Information
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