PPP Loan Data — Rancho Express Lube Inc, Rancho Cucamonga, CA
Rancho Express Lube Inc is a corporation located at 8047 Center Ave in Rancho Cucamonga, California that received a Coronavirus-related PPP loan from the SBA of $25,201.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Rancho Express Lube Inc in Rancho Cucamonga, CA received a Paycheck Protection Loan of $25,201 through Customers Bank, which was approved in May, 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, Rancho Express Lube Inc's 2019 payroll expenses are estimated to be at least $120,965.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,241 per employee1
Reported PPP Proceed Usage:
On the PPP application, Rancho Express Lube Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,201
Business Information - Rancho Express Lube Inc in Rancho Cucamonga, CA
8047 Center Ave
Rancho Cucamonga, CA 91730
All Other Animal Production
NAICS code 112990
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Rancho Cucamonga
In the Rancho Cucamonga area, 4 businesses in the "All Other Animal Production" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 4) and received an average PPP loan of $44,126 (compared to this company's $25,201).
Similar Nearby Businesses Who Received PPP Funding:
SEV Laser Aesthetics Rancho Cucamonga Ll
Rancho Cucamonga, CA
Rancho Escrow Services
Rch Cucamonga, CA
Taste Of Rancho Inc
Rancho Cucamonga, CA
Industry PPP Comparison Statistics
Nationwide, 10,196 businesses in the "All Other Animal Production" industry received a total of $237.6M 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 3 employees, 25% lower than Rancho Express Lube Inc's reported 4 employees, and received an average PPP loan of $23,303, 8% lower than this company's loan of $25,201.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!