PPP Loan Data — The Castine Group, Sunnyvale, CA
The Castine Group
Location: Sunnyvale, CATweet This • Search All PPP Data
The Castine Group is a corporation located at 152 Commercial St in Sunnyvale, California that received a Coronavirus-related PPP loan from the SBA of $4,619,400.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 182 people during the applicable loan loan period.
$ PPP Loan Information
The Castine Group received a Paycheck Protection Loan of $4.62M through COMERICA BANK, which was approved in April, 2020.
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 182 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.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 222.
Based on standard PPP eligibility rules, The Castine Group's total 2019 payroll expenses were approximately $22.17M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 182 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - The Castine Group in Sunnyvale, CA
152 Commercial St
Sunnyvale, CA 94086
Electrical Contractors and Other Wiring Installation Contractors (NAICS code 238210)
Business Owner Demographics
Race / Ethnicity: WHITE
Gender: MALE OWNED
Veteran Status: NON-VETERANCongressional District: CA-17
Similar Companies near Sunnyvale
In the Sunnyvale area, 6 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 32 employees (compared to this company's 182) and received an average PPP loan of $803,806 (compared to this company's $4.62M).
Similar Nearby Businesses Who Received PPP Funding:
Sight Sound & Security Inc.
Capital Electric And Sign Co.
Perry Electric, LLC
Niko Electric Inc.
Industry PPP Comparison Statistics
Nationwide, 44,489 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a total of $8,060,101,877.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 2% of the total PPP funding allocated.
PPP recipients in this industry report an average of 12 employees, 93% lower than The Castine Group's reported 182 employees, and received an average PPP loan of $181,171, 96% lower than this company's loan of $4.62M.
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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