PPP Loan Data — Soapy Joes Group Inc, Santee, CA
Soapy Joes Group Inc is a subchapter s corporation located at 11465 Woodside Avenue in Santee, California that received a Coronavirus-related PPP loan from the SBA of $1,988,000.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 323 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Citizens Bank, National Association
Soapy Joes Group Inc in Santee, CA received a Paycheck Protection Loan of $1.99M through Citizens 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 May, 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, Soapy Joes Group Inc's 2019 payroll expenses are estimated to be at least $9.54M.
Based on their reported 323 jobs retained, this equals an estimated average yearly compensation of $29,543 per employee1
Reported PPP Proceed Usage:
On the PPP application, Soapy Joes Group Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,988,000
Business Information - Soapy Joes Group Inc in Santee, CA
11465 Woodside Avenue
Santee, CA 92071
NAICS code 811192
Business Owner Demographics
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 Santee
In the Santee area, 3 businesses in the "Car Washes" industry received a PPP loan. These local businesses reported an average of 113 employees (compared to this company's 323) and received an average PPP loan of $686,497 (compared to this company's $1.99M).
Similar Nearby Businesses Who Received PPP Funding:
Industry PPP Comparison Statistics
Nationwide, 26,021 businesses in the "Car Washes" industry received a total of $986.15M 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 7 employees, 98% lower than Soapy Joes Group Inc's reported 323 employees, and received an average PPP loan of $37,898, 98% lower than this company's loan of $1.99M.
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Footnotes & Information
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