PPP Loan Data — Synder Langston Holdings, LLC, Irvine, CA
Synder Langston Holdings, LLC
Entity: Limited Liability Company (LLC)
Location: Irvine, CATweet This • Search All PPP Data
Synder Langston Holdings, LLC is a limited liability company (LLC) located at 17962 Cowan in Irvine, California that received a Coronavirus-related PPP loan from the SBA of $4,051,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:City National Bank
Synder Langston Holdings, LLC in Irvine, CA received a Paycheck Protection Loan of $4.05M through City National Bank, 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 September, 2021.The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 169 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 194. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, Synder Langston Holdings, LLC's 2019 payroll expenses are estimated to be at least $19.44M (not accounting for salary amounts > $100k).
Because the 169 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Synder Langston Holdings, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,951,000
- Rent: $100,000
Business Information - Synder Langston Holdings, LLC in Irvine, CA
Irvine, CA 92614
Commercial and Institutional Building Construction
NAICS code 236220
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Businesses Using Same Address:
There is one other business that received a PPP loan registered to the same address as Synder Langston Holdings, LLC.
DRP Consulting Inc
Custom Computer Programming Services
Similar Companies near Irvine
In the Irvine area, 24 businesses in the "Commercial and Institutional Building Construction" industry received a PPP loan. These local businesses reported an average of 44 employees (compared to this company's 169) and received an average PPP loan of $543,024 (compared to this company's $4.05M).
Similar Nearby Businesses Who Received PPP Funding:
CNC Contractors Corp
MEP California Engineering Corp
Koll Investment Company, LLC
Aztech Construction Inc
Optima Rpm, Inc
TRC Parkitects, LLC
Pacific Construction Group
Hodel Wilks LLP
Industry PPP Comparison Statistics
Nationwide, 77,396 businesses in the "Commercial and Institutional Building Construction" industry received a total of $12.37B 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 12 employees, 93% lower than Synder Langston Holdings, LLC's reported 169 employees, and received an average PPP loan of $159,889, 96% lower than this company's loan of $4.05M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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