PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Sovereign Lending Group, Costa Mesa, CA

SBA PPP loan data, payroll data, and salaries for Sovereign Lending Group
CA

Sovereign Lending Group

Entity: Corporation

Industry: Mortgage and Nonmortgage Loan Brokers

Location: Costa Mesa, CA

Search All PPP Data

Sovereign Lending Group is a corporation located at 3540 Howard Way in Costa Mesa, California that received a Coronavirus-related PPP loan from the SBA of $2,779,300.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least 185 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$2.78M

Jobs Retained:

185

Loan Approved:

2020-04-14

Lender:

FLAGSTAR BANK, FSB

Sovereign Lending Group in Costa Mesa, CA received a Paycheck Protection Loan of $2.78M through FLAGSTAR BANK, FSB, which was approved in April, 2020.

Based on standard PPP eligibility rules, Sovereign Lending Group's total 2019 payroll expenses were approximately $13.34M in order to qualify for the PPP loan amount received.

Based on their reported 185 jobs retained, this equals an estimated average yearly compensation of $72,112 per employee1.

Because the loan received by Sovereign Lending Group is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Sovereign Lending Group in Costa Mesa, CA

Sovereign Lending Group
3540 Howard Way
Costa Mesa, CA 92626

Business Industry

Mortgage and Nonmortgage Loan Brokers (NAICS code 522310)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: MALE OWNED

Veteran Status: Unreported

Congressional District: CA-48

Similar Companies near Costa Mesa

In the Costa Mesa area, 13 businesses in the "Mortgage and Nonmortgage Loan Brokers" industry received a PPP loan. These local businesses reported an average of 20 employees (compared to this company's 185) and received an average PPP loan of $334,602 (compared to this company's $2.78M).

Industry PPP Comparison Statistics

Nationwide, 4,330 businesses in the "Mortgage and Nonmortgage Loan Brokers" industry received a total of $593,727,712.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 9 employees, 95% lower than Sovereign Lending Group's reported 185 employees, and received an average PPP loan of $137,120, 95% lower than this company's loan of $2.78M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan. All information displayed on this page is publicly available information under PPP loan guidelines, and is published unmodified, as provided by the SBA.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


Have FederalPay.org's open data tools been valuable? Consider donating!

** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/sovereign-lending-group-costa-mesa-ca