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PPP Loan Data — Meyer Sound Laboratories Incorporated, Berkeley, CA

SBA PPP loan data, payroll data, and salaries for Meyer Sound Laboratories Incorporated
CA

Meyer Sound Laboratories Incorporated

Entity: Corporation

Industry: Other Sound Recording Industries

Location: Berkeley, CA

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Meyer Sound Laboratories Incorporated is a corporation located at 2832 San Pablo Avenue in Berkeley, California that received a Coronavirus-related PPP loan from the SBA of $5,483,800.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$5.48M

Jobs Retained:

357

Loan Approved:

2020-04-15

Lender:

SOUND COMMUNITY BANK

Meyer Sound Laboratories Incorporated received a Paycheck Protection Loan of $5.48M through SOUND COMMUNITY BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Meyer Sound Laboratories Incorporated's total 2019 payroll expenses were approximately $26.32M in order to qualify for the PPP loan amount received.

Based on their reported 357 jobs retained, this equals an estimated average yearly compensation of $73,732 per employee1.

Because the loan received by Meyer Sound Laboratories Incorporated 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 - Meyer Sound Laboratories Incorporated in Berkeley, CA

Meyer Sound Laboratories Incorporated
2832 San Pablo Avenue
Berkeley, CA 94702

Business Industry

Other Sound Recording Industries (NAICS code 512290)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: CA-13

Industry PPP Comparison Statistics

Nationwide, 1,258 businesses in the "Other Sound Recording Industries" industry received a total of $68,113,345.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 4 employees, 99% lower than Meyer Sound Laboratories Incorporated's reported 357 employees, and received an average PPP loan of $54,144, 99% lower than this company's loan of $5.48M.

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.

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Footnotes & Information

1. 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/meyer-sound-laboratories-incorporated-berkeley-ca