PPP Loan Data — Pacific Secured Equities, Inc., Rocklin, CA
Pacific Secured Equities, Inc. is a corporation located at 6020 Oaks Blvd in Rocklin, California that received a Coronavirus-related PPP loan from the SBA of $4,902,000.00 in April, 2020.
$ PPP Loan Information
Lender:CADENCE BANK, NATIONAL ASSOCIATION
Pacific Secured Equities, Inc. in Rocklin, CA received a Paycheck Protection Loan of $4.9M through CADENCE BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
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 50 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.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 235.
Based on standard PPP eligibility rules, Pacific Secured Equities, Inc.'s total 2019 payroll expenses were approximately $23.53M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 50 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - Pacific Secured Equities, Inc. in Rocklin, CA
6020 Oaks Blvd
Rocklin, CA 95765
Insurance Agencies and Brokerages (NAICS code 524210)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: CA-04
Similar Companies near Rocklin
In the Rocklin area, 15 businesses in the "Insurance Agencies and Brokerages" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 50) and received an average PPP loan of $366,662 (compared to this company's $4.9M).
Similar Nearby Businesses Who Received PPP Funding:
Jeff Lorenz Financial Services, Inc.
Retirement Planning Services Inc
Mcgrew 6; Maher Insurance Services, Inc.
Good Shepherd Insurance Agency LLC
Employers Select Insurance Services
Baystar Insurance Agency Inc
Trusted American Insurance Agency, Inc.
Scott Yuill Insurance & Services Inc
Industry PPP Comparison Statistics
Nationwide, 90,958 businesses in the "Insurance Agencies and Brokerages" industry received a total of $4,494,836,388.00 in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 4 employees, 92% lower than Pacific Secured Equities, Inc.'s reported 50 employees, and received an average PPP loan of $49,417, 99% lower than this company's loan of $4.9M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
Have FederalPay.org's open data tools been valuable? Consider donating!