PPP Loan Data — Ricos Multi Help Advice, Fontana, CA
Ricos Multi Help Advice is a sole proprietorship located in Fontana, California that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
The company has reported itself as a male owned business, and employed at least one person during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
Ricos Multi Help Advice in Fontana, CA received a Paycheck Protection Loan of $25,000 through JPMorgan Chase Bank, National Association, which was approved in May, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 1. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
Reported PPP Proceed Usage:
On the PPP application, Ricos Multi Help Advice reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $23,350
- Utilities: $650
- Rent: $1,000
Business Information - Ricos Multi Help Advice in Fontana, CA
* Full address is redacted to protect the privacy of individuals.
Business Owner Demographics
Ethnicity: 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
Industry PPP Comparison Statistics
PPP recipients in this industry report an average of 0 employees, 100% lower than Ricos Multi Help Advice's reported 1 employees, and received an average PPP loan of $0, 100% lower than this company's loan of $25,000.
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!