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PPP Loan Data — The Golden Rain Foundation, Walnut Creek, CA

SBA PPP loan data, payroll data, and salaries for The Golden Rain Foundation
CA Nonprofit Organization

The Golden Rain Foundation

Entity: Non-profit Organization

Industry: All Other Professional, Scientific, and Technical Services

Location: Walnut Creek, CA

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The Golden Rain Foundation is a non-profit organization located at 800 Rockview Drive in Walnut Creek, California that received a Coronavirus-related PPP loan from the SBA of $3,570,600.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.57M

Jobs Retained:

200

Loan Approved:

2020-04-09

Lender:

MECHANICS BANK

The Golden Rain Foundation received a Paycheck Protection Loan of $3.57M through MECHANICS BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, The Golden Rain Foundation's total 2019 payroll expenses were approximately $17.14M in order to qualify for the PPP loan amount received.

Based on their reported 200 jobs retained, this equals an estimated average yearly compensation of $85,694 per employee1.

Because the loan received by The Golden Rain Foundation 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 - The Golden Rain Foundation in Walnut Creek, CA

The Golden Rain Foundation
800 Rockview Drive
Walnut Creek, CA 94595

Business Industry

All Other Professional, Scientific, and Technical Services (NAICS code 541990)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: CA-11

Similar Companies near Walnut Creek

In the Walnut Creek area, 34 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a PPP loan. These local businesses reported an average of 15 employees (compared to this company's 200) and received an average PPP loan of $289,449 (compared to this company's $3.57M).

Industry PPP Comparison Statistics

Nationwide, 63,722 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a total of $4,746,522,934.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 6 employees, 97% lower than The Golden Rain Foundation's reported 200 employees, and received an average PPP loan of $74,488, 98% lower than this company's loan of $3.57M.

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.

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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.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/the-golden-rain-foundation-walnut-creek-ca