PPP Loan Data — Loewy Enterprises Inc, Fullerton, CA
Loewy Enterprises Inc is a subchapter s corporation located at 500 Burning Tree Road in Fullerton, California that received a Coronavirus-related PPP loan from the SBA of $1,665,300.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Boston Private Bank & Trust Company
Loewy Enterprises Inc in Fullerton, CA received a Paycheck Protection Loan of $1.67M through Boston Private Bank & Trust Company, which was approved in April, 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, Loewy Enterprises Inc's 2019 payroll expenses are estimated to be at least $7.99M.
Based on their reported 142 jobs retained, this equals an estimated average yearly compensation of $56,292 per employee1
Reported PPP Proceed Usage:
On the PPP application, Loewy Enterprises Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,665,300
Business Information - Loewy Enterprises Inc in Fullerton, CA
500 Burning Tree Road
Fullerton, CA 92833
Fresh Fruit and Vegetable Merchant Wholesalers
NAICS code 424480
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Fullerton
In the Fullerton area, 2 businesses in the "Fresh Fruit and Vegetable Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 72 employees (compared to this company's 142) and received an average PPP loan of $848,100 (compared to this company's $1.67M).
Similar Nearby Businesses Who Received PPP Funding:
Pure Spect USA, Inc
Industry PPP Comparison Statistics
Nationwide, 4,225 businesses in the "Fresh Fruit and Vegetable Merchant Wholesalers" industry received a total of $800.94M 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 19 employees, 87% lower than Loewy Enterprises Inc's reported 142 employees, and received an average PPP loan of $189,572, 89% lower than this company's loan of $1.67M.
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Footnotes & Information
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