PPP Loan Data — Pacific Coast Sales 26 Service, Sunnyvale, CA

Pacific Coast Sales 26 Service is a corporation located at 310 Soquel Way in Sunnyvale, California that received a Coronavirus-related PPP loan from the SBA of $4,271,601.00 in May, 2020.

$ PPP Loan Information

Loan #3823927701

Pacific Coast Sales 26 Service in Sunnyvale, CA received a Paycheck Protection Loan of $4.27M through Wells Fargo Bank, 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 August, 2022.

The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 190 jobs reported as retained on the PPP application³. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.

The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 205. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

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, Pacific Coast Sales 26 Service's 2019 payroll expenses are estimated to be at least $20.5M (not accounting for salary amounts > $100k).

Because the 190 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.

Reported PPP Proceed Usage:

On the PPP application, Pacific Coast Sales 26 Service reported intending to use the proceeds of their PPP loan for the following expenses:

• Payroll: $4,271,601

Business Information - Pacific Coast Sales 26 Service in Sunnyvale, CA

Similar Companies near Sunnyvale

In the Sunnyvale area, 1,569 businesses in the "Unknown" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 190) and received an average PPP loan of $107,907 (compared to this company's $4.27M).

Industry PPP Comparison Statistics

Nationwide, 132,325 businesses in the "Unknown" industry received a total of $5.85B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 13 employees, 93% lower than Pacific Coast Sales 26 Service's reported 190 employees, and received an average PPP loan of $44,230, 99% lower than this company's loan of $4.27M.