PPP Loan Data — Sarc, Inc, Nipomo, CA
Sarc, Inc is a subchapter s corporation located at 440 W Tefft St in Nipomo, California that received a Coronavirus-related PPP loan from the SBA of $1,788,997.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 270 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Loan Source Incorporated
Sarc, Inc in Nipomo, CA received a Paycheck Protection Loan of $1.79M 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, Sarc, Inc's 2019 payroll expenses are estimated to be at least $8.59M.
Based on their reported 270 jobs retained, this equals an estimated average yearly compensation of $31,804 per employee1
Reported PPP Proceed Usage:
On the PPP application, Sarc, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,547,008
- Utilities: $212
- Rent: $240,640
- Health Care: $1,137
Business Information - Sarc, Inc in Nipomo, CA
440 W Tefft St
Nipomo, CA 93444
Farm Labor Contractors and Crew Leaders
NAICS code 115115
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Nipomo
In the Nipomo area, 3 businesses in the "Farm Labor Contractors and Crew Leaders" industry received a PPP loan. These local businesses reported an average of 229 employees (compared to this company's 270) and received an average PPP loan of $1,390,207 (compared to this company's $1.79M).
Similar Nearby Businesses Who Received PPP Funding:
La Alianza, LP
Castaneda & Sons, Inc
Industry PPP Comparison Statistics
Nationwide, 3,959 businesses in the "Farm Labor Contractors and Crew Leaders" industry received a total of $455.54M 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 26 employees, 90% lower than Sarc, Inc's reported 270 employees, and received an average PPP loan of $115,064, 94% lower than this company's loan of $1.79M.
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Footnotes & Information
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