PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — National Funding Inc, San Diego, CA

ALERT: There are 2 PPP loans for a total of $8.09M in our database for businesses with the name "National Funding Inc" in San Diego, CA. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for National Funding Inc
CA

National Funding Inc

Entity: Corporation

Industry: Mortgage and Nonmortgage Loan Brokers

Location: San Diego, CA

Search All PPP Data

National Funding Inc is a corporation located at 9820 Towne Centre Dr Ste 2 in San Diego, California that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in March, 2021.

$ PPP Loan Information
Loan #5977838609

Loan Size:

$2M

Jobs Retained:

146

Loan Approved:

2021-03-20

Loan Status:

Ongoing Loan

Lender:

Pacific Western Bank

National Funding Inc in San Diego, CA received a Paycheck Protection Loan of $2M through Pacific Western Bank, which was approved in March, 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 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, National Funding Inc's 2019 payroll expenses are estimated to be at least $9.6M.

Based on their reported 146 jobs retained, this equals an estimated average yearly compensation of $65,753 per employee1

Reported PPP Proceed Usage:

On the PPP application, National Funding Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,999,999
  • Utilities: $1
Because the loan received by National Funding Inc 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 - National Funding Inc in San Diego, CA

National Funding Inc
9820 Towne Centre Dr Ste 2
San Diego, CA 92121

Business Industry:
Mortgage and Nonmortgage Loan Brokers
NAICS code 522310

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: Y

Rural / Urban: Urban

San Diego County, CA — SBA Office 0954 — Congressional District: CA-52

Similar Companies near San Diego

In the San Diego area, 10 businesses in the "Mortgage and Nonmortgage Loan Brokers" industry received a PPP loan. These local businesses reported an average of 50 employees (compared to this company's 146) and received an average PPP loan of $826,758 (compared to this company's $2M).

Industry PPP Comparison Statistics

Nationwide, 6,645 businesses in the "Mortgage and Nonmortgage Loan Brokers" industry received a total of $677.88M 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 8 employees, 95% lower than National Funding Inc's reported 146 employees, and received an average PPP loan of $102,014, 95% lower than this company's loan of $2M.

SBA PPP loan data, payroll data, and salaries for National Funding, Inc
CA

National Funding, Inc

Entity: Corporation

Industry: Mortgage and Nonmortgage Loan Brokers

Location: San Diego, CA

Search All PPP Data

National Funding, Inc is a corporation located at 9820 Towne Centre Drive in San Diego, California that received a Coronavirus-related PPP loan from the SBA of $6,088,165.00 in April, 2020.

$ PPP Loan Information
Loan #7543827100

Loan Size:

$6.09M

Jobs Retained:

334

Loan Approved:

2020-04-14

Loan Status:

Ongoing Loan

Lender:

Pacific Western Bank

National Funding, Inc in San Diego, CA received a Paycheck Protection Loan of $6.09M through Pacific Western Bank, which was approved in April, 2020.

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 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, National Funding, Inc's 2019 payroll expenses are estimated to be at least $29.22M.

Based on their reported 334 jobs retained, this equals an estimated average yearly compensation of $87,495 per employee1

Reported PPP Proceed Usage:

On the PPP application, National Funding, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $6,088,165
Because the loan received by National Funding, Inc 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 - National Funding, Inc in San Diego, CA

National Funding, Inc
9820 Towne Centre Drive
San Diego, CA 92121

Business Industry:
Mortgage and Nonmortgage Loan Brokers
NAICS code 522310

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: New Business or 2 years or less

LMI Zone: N

HUBZone: Y

Rural / Urban: Urban

San Diego County, CA — SBA Office 0954 — Congressional District: CA-49

Similar Companies near San Diego

In the San Diego area, 10 businesses in the "Mortgage and Nonmortgage Loan Brokers" industry received a PPP loan. These local businesses reported an average of 50 employees (compared to this company's 334) and received an average PPP loan of $826,758 (compared to this company's $6.09M).

Industry PPP Comparison Statistics

Nationwide, 6,645 businesses in the "Mortgage and Nonmortgage Loan Brokers" industry received a total of $677.88M 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 8 employees, 98% lower than National Funding, Inc's reported 334 employees, and received an average PPP loan of $102,014, 98% lower than this company's loan of $6.09M.

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.

Search FederalPay's Full PPP Loan Database

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/national-funding-inc-san-diego-ca