PPP Loan Data — Prestige Mold, Incorporated, Rancho Cucamonga, CA
Prestige Mold, Incorporated is a subchapter s corporation located at 11040 Tacoma Dr in Rancho Cucamonga, California that received a Coronavirus-related PPP loan from the SBA of $1,550,000.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Citizens Business Bank
Prestige Mold, Incorporated in Rancho Cucamonga, CA received a Paycheck Protection Loan of $1.55M through Citizens Business Bank, 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, Prestige Mold, Incorporated's 2019 payroll expenses are estimated to be at least $7.44M.
Based on their reported 89 jobs retained, this equals an estimated average yearly compensation of $83,596 per employee1
Reported PPP Proceed Usage:
On the PPP application, Prestige Mold, Incorporated reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,550,000
Business Information - Prestige Mold, Incorporated in Rancho Cucamonga, CA
11040 Tacoma Dr
Rancho Cucamonga, CA 91730
Industrial Mold Manufacturing
NAICS code 333511
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 1,132 businesses in the "Industrial Mold Manufacturing" industry received a total of $333.26M 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 24 employees, 73% lower than Prestige Mold, Incorporated's reported 89 employees, and received an average PPP loan of $294,400, 81% lower than this company's loan of $1.55M.
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Footnotes & Information
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