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

PPP Loan Data — Statewide Labor Corporation, Lake Forest, CA

ALERT: There are 2 PPP loans for a total of $4.41M in our database for businesses with the name "Statewide Labor Corporation" in Lake Forest, CA. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Statewide Labor Corporation
CA

Statewide Labor Corporation

Entity: Corporation

Industry: Farm Labor Contractors and Crew Leaders

Location: Lake Forest, CA

Search All PPP Data

Statewide Labor Corporation is a corporation located at 24551 Raymond Way Ste 260 in Lake Forest, California that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in January, 2021.

The company has reported itself as a White male owned business, and employed at least 282 people during the applicable loan loan period.

$ PPP Loan Information
Loan #9353588301

Loan Size:

$2M

Jobs Retained:

282

Loan Approved:

2021-01-30

Loan Status:

Ongoing Loan

Lender:

Bank of Southern California, National Association

Statewide Labor Corporation in Lake Forest, CA received a Paycheck Protection Loan of $2M through Bank of Southern California, National Association, which was approved in January, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Statewide Labor Corporation's 2019 payroll expenses are estimated to be at least $9.6M.

Based on their reported 282 jobs retained, this equals an estimated average yearly compensation of $34,043 per employee1

Reported PPP Proceed Usage:

On the PPP application, Statewide Labor Corporation reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,999,997
  • Utilities: $1
Because the loan received by Statewide Labor Corporation 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 - Statewide Labor Corporation in Lake Forest, CA

Statewide Labor Corporation
24551 Raymond Way Ste 260
Lake Forest, CA 92630

Business Industry:
Farm Labor Contractors and Crew Leaders
NAICS code 115115

Business Owner Demographics

Race: White

Ethnicity: Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Orange County, CA — SBA Office 0920 — Congressional District: CA-45

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, 91% lower than Statewide Labor Corporation's reported 282 employees, and received an average PPP loan of $115,064, 94% lower than this company's loan of $2M.

SBA PPP loan data, payroll data, and salaries for Statewide Labor Corporation
CA

Statewide Labor Corporation

Entity: Corporation

Industry: Farm Labor Contractors and Crew Leaders

Location: Lake Forest, CA

Search All PPP Data

Statewide Labor Corporation is a corporation located at 24551 Raymond Way #260 in Lake Forest, California that received a Coronavirus-related PPP loan from the SBA of $2,407,400.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least 317 people during the applicable loan loan period.

$ PPP Loan Information
Loan #2162797304

Loan Size:

$2.41M

Jobs Retained:

317

Loan Approved:

2020-04-29

Loan Status:

Ongoing Loan

Lender:

Bank of Southern California, National Association

Statewide Labor Corporation in Lake Forest, CA received a Paycheck Protection Loan of $2.41M through Bank of Southern California, National Association, which was approved in April, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Statewide Labor Corporation's 2019 payroll expenses are estimated to be at least $11.56M.

Based on their reported 317 jobs retained, this equals an estimated average yearly compensation of $36,453 per employee1

Reported PPP Proceed Usage:

On the PPP application, Statewide Labor Corporation reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,805,550
  • Utilities: $601,850
Because the loan received by Statewide Labor Corporation 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 - Statewide Labor Corporation in Lake Forest, CA

Statewide Labor Corporation
24551 Raymond Way #260
Lake Forest, CA 92630

Business Industry:
Farm Labor Contractors and Crew Leaders
NAICS code 115115

Business Owner Demographics

Race: White

Ethnicity: Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Orange County, CA — SBA Office 0920 — Congressional District: CA-45

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, 92% lower than Statewide Labor Corporation's reported 317 employees, and received an average PPP loan of $115,064, 95% lower than this company's loan of $2.41M.

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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/statewide-labor-corporation-lake-forest-ca