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PPP Loan Data — Landsea Holdings Corporation, Newport Beach, CA

SBA PPP loan data, payroll data, and salaries for Landsea Holdings Corporation
CA

Landsea Holdings Corporation

Entity: Corporation

Industry: New Housing For-Sale Builders

Location: Newport Beach, CA

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Landsea Holdings Corporation is a corporation located at 660 Newport Center Dr in Newport Beach, California that received a Coronavirus-related PPP loan from the SBA of $4,265,605.00 in April, 2020.

$ PPP Loan Information
Loan #9731337102

Loan Size:

$4.27M

Jobs Retained:

285

Loan Approved:

2020-04-15

Loan Status:

Paid in Full or Forgiven

Lender:

Farmers & Merchants Bank of Long Beach

Landsea Holdings Corporation in Newport Beach, CA received a Paycheck Protection Loan of $4.27M through Farmers & Merchants Bank of Long Beach, which was approved in April, 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 July, 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 More
Understanding 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 More

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, Landsea Holdings Corporation's 2019 payroll expenses are estimated to be at least $20.47M.

Based on their reported 285 jobs retained, this equals an estimated average yearly compensation of $71,842 per employee1

Reported PPP Proceed Usage:

On the PPP application, Landsea Holdings Corporation reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $4,265,605
Because the loan received by Landsea Holdings Corporation is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Landsea Holdings Corporation in Newport Beach, CA

Landsea Holdings Corporation
660 Newport Center Dr
Newport Beach, CA 92660

Business Industry:
New Housing For-Sale Builders
NAICS code 236117

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

Orange County, CA — SBA Office 0920 — Congressional District: CA-48

Businesses Using Same Address:

There are 2 other businesses that received a PPP loan registered to the same address as Landsea Holdings Corporation.

Anis Ibrahim
Full-Service Restaurants

$19,375 PPP Loan

Insuranceonline.com Services, Inc
Other Insurance Funds

$449,200 PPP Loan

Similar Companies near Newport Beach

In the Newport Beach area, 9 businesses in the "New Housing For-Sale Builders" industry received a PPP loan. These local businesses reported an average of 79 employees (compared to this company's 285) and received an average PPP loan of $1,380,464 (compared to this company's $4.27M).

Industry PPP Comparison Statistics

Nationwide, 13,036 businesses in the "New Housing For-Sale Builders" industry received a total of $1.02B 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, 98% lower than Landsea Holdings Corporation's reported 285 employees, and received an average PPP loan of $78,140, 98% lower than this company's loan of $4.27M.

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.

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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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Source: www.federalpay.org/paycheck-protection-program/landsea-holdings-corporation-newport-beach-ca