PPP Loan Data — King Quality Produce Inc, North Hollywood, CA
King Quality Produce Inc is a corporation located at 6300 Carpenter Ave in North Hollywood, California that received a Coronavirus-related PPP loan from the SBA of $24,855.00 in June, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
King Quality Produce Inc in North Hollywood, CA received a Paycheck Protection Loan of $24,855 through Quontic Bank, which was approved in June, 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, King Quality Produce Inc's 2019 payroll expenses are estimated to be at least $119,304.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $19,884 per employee1
Reported PPP Proceed Usage:
On the PPP application, King Quality Produce Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,855
Business Information - King Quality Produce Inc in North Hollywood, CA
6300 Carpenter Ave
North Hollywood, CA 91606
All Other Miscellaneous Crop Farming
NAICS code 111998
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near North Hollywood
In the North Hollywood area, 2 businesses in the "All Other Miscellaneous Crop Farming" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 6) and received an average PPP loan of $15,340 (compared to this company's $24,855).
Similar Nearby Businesses Who Received PPP Funding:
Best Day Ever
Los Angeles, CA
Industry PPP Comparison Statistics
Nationwide, 27,661 businesses in the "All Other Miscellaneous Crop Farming" industry received a total of $1.14B 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 6 employees, the same amount reported by King Quality Produce Inc and received an average PPP loan of $41,062, 65% higher than this company's loan of $24,855.
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Footnotes & Information
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