PPP Loan Data — R.w. Garcia Co., Inc, Scotts Valley, CA
R.w. Garcia Co., Inc is a corporation located at 100 Enterprse Way in Scotts Valley, California that received a Coronavirus-related PPP loan from the SBA of $1,930,600.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:MUFG Union Bank, National Association
R.w. Garcia Co., Inc in Scotts Valley, CA received a Paycheck Protection Loan of $1.93M through MUFG Union Bank, 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 April, 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.w. Garcia Co., Inc's 2019 payroll expenses are estimated to be at least $9.27M.
Based on their reported 129 jobs retained, this equals an estimated average yearly compensation of $71,836 per employee1
Reported PPP Proceed Usage:
On the PPP application, R.w. Garcia Co., Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,930,600
Business Information - R.w. Garcia Co., Inc in Scotts Valley, CA
100 Enterprse Way
Scotts Valley, CA 95066
Other Snack Food Manufacturing
NAICS code 311919
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 1,936 businesses in the "Other Snack Food Manufacturing" industry received a total of $197.28M 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 11 employees, 91% lower than R.w. Garcia Co., Inc's reported 129 employees, and received an average PPP loan of $101,899, 95% lower than this company's loan of $1.93M.
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Footnotes & Information
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