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PPP Loan Data — La Ranchera Mexican Food Inc,
La Habra, CA
La Ranchera Mexican Food Inc
Entity: Corporation
Industry: Full-Service Restaurants
Location: La Habra, CA
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La Ranchera Mexican Food Inc is a corporation located at 911 E La Habra Blvd in La Habra, California that received a Coronavirus-related PPP loan from the SBA of $21,115.00 in April, 2021.
$
PPP Loan Information
Loan #6861138810
Loan Size:
Jobs Retained:
4Loan Approved:
2021-04-20Loan Status:
Ongoing LoanLender:
Bank of America, National AssociationLa Ranchera Mexican Food Inc in La Habra, CA received a Paycheck Protection Loan of $21,115 through Bank of America, National Association, which was approved in April, 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, La Ranchera Mexican Food Inc's 2019 payroll expenses are estimated to be at least $101,352.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $25,338 per employee1
Reported PPP Proceed Usage:
On the PPP application, La Ranchera Mexican Food Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $21,110
- Utilities: $1
Business Information - La Ranchera Mexican Food Inc in La Habra, CA
911 E La Habra Blvd
La Habra, CA 90631
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: Y
HUBZone: N
Rural / Urban: Urban
Similar Companies near La Habra
In the La Habra area, 118 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 32 employees (compared to this company's 4) and received an average PPP loan of $410,256 (compared to this company's $21,115).
Similar Nearby Businesses Who Received PPP Funding:
Joe's Deli Gourmet Sandwiches
Cypress, CA
EZ Diner Corp
Cypress, CA
Meso Hungry LLC
La Habra, CA
FM Restaurants Chevys Opco LLC
Cypress, CA
Masahide Naya
Cypress, CA
Akafuji Inc
La Habra, CA
FM Restaurants El Torito Opco, LLC
Cypress, CA
Trvinejc, Inc
La Habra, CA
Pho May
Cypress, CA
Industry PPP Comparison Statistics
Nationwide, 329,389 businesses in the "Full-Service Restaurants" industry received a total of $42.59B in PPP loans. These businesses account for 3% of total PPP applications submitted, and received 5% of the total PPP funding allocated.
PPP recipients in this industry report an average of 22 employees, 450% higher than La Ranchera Mexican Food Inc's reported 4 employees, and received an average PPP loan of $129,294, 512% higher than this company's loan of $21,115.
La Ranchera Mexican Food, Inc
Entity: Corporation
Industry: Full-Service Restaurants
Location: La Habra, CA
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La Ranchera Mexican Food, Inc is a corporation located at 911 E La Habra Blvd in La Habra, California that received a Coronavirus-related PPP loan from the SBA of $15,241.00 in May, 2020.
$
PPP Loan Information
Loan #9796927310
Loan Size:
Jobs Retained:
7Loan Approved:
2020-05-02Loan Status:
Paid in Full or ForgivenLender:
Bank of America, National AssociationLa Ranchera Mexican Food, Inc in La Habra, CA received a Paycheck Protection Loan of $15,241 through Bank of America, National Association, which was approved in May, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in May, 2021.
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, La Ranchera Mexican Food, Inc's 2019 payroll expenses are estimated to be at least $73,157.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $10,451 per employee1
Reported PPP Proceed Usage:
On the PPP application, La Ranchera Mexican Food, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $15,241
Business Information - La Ranchera Mexican Food, Inc in La Habra, CA
911 E La Habra Blvd
La Habra, CA 90631
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: Y
HUBZone: N
Rural / Urban: Urban
Similar Companies near La Habra
In the La Habra area, 118 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 32 employees (compared to this company's 7) and received an average PPP loan of $410,256 (compared to this company's $15,241).
Similar Nearby Businesses Who Received PPP Funding:
Joe's Deli Gourmet Sandwiches
Cypress, CA
EZ Diner Corp
Cypress, CA
Meso Hungry LLC
La Habra, CA
FM Restaurants Chevys Opco LLC
Cypress, CA
Masahide Naya
Cypress, CA
Akafuji Inc
La Habra, CA
FM Restaurants El Torito Opco, LLC
Cypress, CA
Trvinejc, Inc
La Habra, CA
Pho May
Cypress, CA
Industry PPP Comparison Statistics
Nationwide, 329,389 businesses in the "Full-Service Restaurants" industry received a total of $42.59B in PPP loans. These businesses account for 3% of total PPP applications submitted, and received 5% of the total PPP funding allocated.
PPP recipients in this industry report an average of 22 employees, 214% higher than La Ranchera Mexican Food, Inc's reported 7 employees, and received an average PPP loan of $129,294, 748% higher than this company's loan of $15,241.
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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