PPP Loan Data — Richard Barton Enterprises, Ontario, CA
Richard Barton Enterprises is a corporation located at 845 N Euclid Ave in Ontario, California that received a Coronavirus-related PPP loan from the SBA of $2,200,000.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 247 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Loan Source Incorporated
Richard Barton Enterprises in Ontario, CA received a Paycheck Protection Loan of $2.2M through Loan Source Incorporated, 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, Richard Barton Enterprises' 2019 payroll expenses are estimated to be at least $10.56M.
Based on their reported 247 jobs retained, this equals an estimated average yearly compensation of $42,753 per employee1
Reported PPP Proceed Usage:
On the PPP application, Richard Barton Enterprises reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,760,000
- Utilities: $36,000
- Mortgage Interest: $36,000
- Rent: $168,000
- Health Care: $180,000
- Debt Interest: $20,000
Business Information - Richard Barton Enterprises in Ontario, CA
845 N Euclid Ave
Ontario, CA 91762
Packaging and Labeling Services
NAICS code 561910
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Ontario
In the Ontario area, 8 businesses in the "Packaging and Labeling Services" industry received a PPP loan. These local businesses reported an average of 52 employees (compared to this company's 247) and received an average PPP loan of $447,465 (compared to this company's $2.2M).
Similar Nearby Businesses Who Received PPP Funding:
International Surplus Packaging, LLC
Atlas Enterprises Inc
Zapp Packaging, Inc
Great Western Eagle Packaging LLC
Contract Labeling Service, Inc
Industry PPP Comparison Statistics
Nationwide, 2,744 businesses in the "Packaging and Labeling Services" industry received a total of $380.14M 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 15 employees, 94% lower than Richard Barton Enterprises' reported 247 employees, and received an average PPP loan of $138,534, 94% lower than this company's loan of $2.2M.
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Footnotes & Information
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