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PPP Loan Data — I Desert Corporation,
Fremont, CA
I Desert Corporation
Entity: Corporation
Industry: Full-Service Restaurants
Location: Fremont, CA
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I Desert Corporation is a corporation located at 1596 Washington Blvd in Fremont, California that received a Coronavirus-related PPP loan from the SBA of $2,500.00 in February, 2021.
$
PPP Loan Information
Loan #7052118406
Loan Size:
Jobs Retained:
2Loan Approved:
2021-02-11Loan Status:
Ongoing LoanLender:
Bank of America, National AssociationI Desert Corporation in Fremont, CA received a Paycheck Protection Loan of $2,500 through Bank of America, National Association, which was approved in February, 2021.
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
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 MoreUnderstanding 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 MoreBased 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, I Desert Corporation's 2019 payroll expenses are estimated to be at least $12,000.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $6,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, I Desert Corporation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,494
- Utilities: $1
Business Information - I Desert Corporation in Fremont, CA
1596 Washington Blvd
Fremont, CA 94539
Business Industry:
Full-Service Restaurants
NAICS code 722511
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
Similar Companies near Fremont
In the Fremont area, 190 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 22 employees (compared to this company's 2) and received an average PPP loan of $185,091 (compared to this company's $2,500).
Similar Nearby Businesses Who Received PPP Funding:
Bistro Viet House
Fremont, CA
Charm Thai LLC
Fremont, CA
Spices, Inc
Fremont, CA
The Gokool, LLC
Fremont, CA
RAH Sami Pizza
Fremont, CA
Farooqui Foods Inc
Fremont, CA
Parass Restaurant Group Inc
Fremont, CA
Yang Dumpling
Fremont, CA
Red Chili Inc
Fremont, CA
Industry PPP Comparison Statistics
Nationwide, 309,041 businesses in the "Full-Service Restaurants" industry received a total of $40.93B in PPP loans. These businesses account for 3% of total PPP applications submitted, and received 6% of the total PPP funding allocated.
PPP recipients in this industry report an average of 23 employees, 1050% higher than I Desert Corporation's reported 2 employees, and received an average PPP loan of $132,426, 5197% higher than this company's loan of $2,500.
I Desert Corporation
Entity: Corporation
Industry: All Other Support Services
Location: Fremont, CA
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I Desert Corporation is a corporation located at 1596 Washington Blvd in Fremont, California that received a Coronavirus-related PPP loan from the SBA of $1,945.00 in May, 2020.
$
PPP Loan Information
Loan #3607407410
Loan Size:
Jobs Retained:
2Loan Approved:
2020-05-07Loan Status:
Ongoing LoanLender:
Bank of America, National AssociationI Desert Corporation in Fremont, CA received a Paycheck Protection Loan of $1,945 through Bank of America, National Association, which was approved in May, 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
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 MoreUnderstanding 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 MoreBased 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, I Desert Corporation's 2019 payroll expenses are estimated to be at least $9,336.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $4,668 per employee1
Reported PPP Proceed Usage:
On the PPP application, I Desert Corporation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,945
Business Information - I Desert Corporation in Fremont, CA
1596 Washington Blvd
Fremont, CA 94539
Business Industry:
All Other Support Services
NAICS code 561990
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
Similar Companies near Fremont
In the Fremont area, 27 businesses in the "All Other Support Services" industry received a PPP loan. These local businesses reported an average of 29 employees (compared to this company's 2) and received an average PPP loan of $442,235 (compared to this company's $1,945).
Similar Nearby Businesses Who Received PPP Funding:
Integrand Inc
Fremont, CA
Sky Signs And Printing
Fremont, CA
Ingenious Business Solutions Inc
Fremont, CA
Labcarriers LLC
Fremont, CA
Fund It Loans Inc
Fremont, CA
Precision Tool Distributors, Inc
Fremont, CA
Bay Area Traffic Solutions Inc
Fremont, CA
Verbstech Inc
Fremont, CA
Icube Information International
Fremont, CA
Industry PPP Comparison Statistics
Nationwide, 33,761 businesses in the "All Other Support Services" industry received a total of $1.68B 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 7 employees, 250% higher than I Desert Corporation's reported 2 employees, and received an average PPP loan of $49,873, 2464% higher than this company's loan of $1,945.
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.
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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