PPP Loan Data — R.h. Peterson Co, City Of Industry, CA
R.h. Peterson Co is a corporation located at 14724 Proctor Ave in City Of Industry, California that received a Coronavirus-related PPP loan from the SBA of $3,252,445.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
R.h. Peterson Co in City Of Industry, CA received a Paycheck Protection Loan of $3.25M through Bank of America, National Association, which was approved in April, 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 September, 2021.
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, R.h. Peterson Co's 2019 payroll expenses are estimated to be at least $15.61M.
Based on their reported 280 jobs retained, this equals an estimated average yearly compensation of $55,756 per employee1
Reported PPP Proceed Usage:
On the PPP application, R.h. Peterson Co reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,252,445
Business Information - R.h. Peterson Co in City Of Industry, CA
14724 Proctor Ave
City Of Industry, CA 91746
Major Household Appliance Manufacturing
NAICS code 335220
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 217 businesses in the "Major Household Appliance Manufacturing" industry received a total of $43.96M 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, 91% lower than R.h. Peterson Co's reported 280 employees, and received an average PPP loan of $202,567, 94% lower than this company's loan of $3.25M.
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Footnotes & Information
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