PPP Loan Data — Saigon Sandwich 168, Rosemead, CA
Saigon Sandwich 168 is a corporation located at 8118 Garvey Ave in Rosemead, California that received a Coronavirus-related PPP loan from the SBA of $117,041.00 in May, 2020.
The company has reported itself as an Asian owned business, and employed at least 25 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Wells Fargo Bank, National Association
Saigon Sandwich 168 in Rosemead, CA received a Paycheck Protection Loan of $117,041 through Wells Fargo Bank, National Association, 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, Saigon Sandwich 168's 2019 payroll expenses are estimated to be at least $561,797.
Based on their reported 25 jobs retained, this equals an estimated average yearly compensation of $22,472 per employee1
Reported PPP Proceed Usage:
On the PPP application, Saigon Sandwich 168 reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $117,041
Business Information - Saigon Sandwich 168 in Rosemead, CA
8118 Garvey Ave
Rosemead, CA 91770
NAICS code 722513
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Rosemead
In the Rosemead area, 37 businesses in the "Limited-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 25 employees (compared to this company's 25) and received an average PPP loan of $101,545 (compared to this company's $117,041).
Similar Nearby Businesses Who Received PPP Funding:
Pacific Restaurants Inc
BT Baking Inc
J & Y Restaurant, Inc
Phoenix Dessert Inc
Rose City Pizza Enterprise, Inc
Industry PPP Comparison Statistics
Nationwide, 137,629 businesses in the "Limited-Service Restaurants" industry received a total of $13.9B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 21 employees, 16% lower than Saigon Sandwich 168's reported 25 employees, and received an average PPP loan of $100,980, 14% lower than this company's loan of $117,041.
FederalPay's PPP Information Policy
Footnotes & Information
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