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

PPP Loan Data — The Old Custom House Inc, Grover Beach, CA

ALERT: There are 2 PPP loans for a total of $4.46M in our database for businesses with the name "The Old Custom House Inc" in Grover Beach, 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 The Old Custom House Inc
CA

The Old Custom House Inc

Entity: Corporation

Industry: Full-Service Restaurants

Location: Grover Beach, CA

Search All PPP Data

The Old Custom House Inc is a corporation located at 200 S 13th St in Grover Beach, California that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in February, 2021.

$ PPP Loan Information
Loan #3174708406

Loan Size:

$2M

Jobs Retained:

196

Loan Approved:

2021-02-04

Loan Status:

Paid in Full or Forgiven

Lender:

Pacific Western Bank

The Old Custom House Inc in Grover Beach, CA received a Paycheck Protection Loan of $2M through Pacific Western Bank, which was approved in February, 2021.

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 October, 2021.

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, The Old Custom House Inc's 2019 payroll expenses are estimated to be at least $9.6M.

Based on their reported 196 jobs retained, this equals an estimated average yearly compensation of $48,980 per employee1

Reported PPP Proceed Usage:

On the PPP application, The Old Custom House Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,999,999
  • Utilities: $1
Because the loan received by The Old Custom House Inc 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 Old Custom House Inc in Grover Beach, CA

The Old Custom House Inc
200 S 13th St
Grover Beach, CA 93433

Business Industry:
Full-Service Restaurants
NAICS code 722511

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: N

Rural / Urban: Urban

San Luis Obispo County, CA — SBA Office 0942 — Congressional District: CA-24

Businesses Using Same Address:

There is one other business that received a PPP loan registered to the same address as The Old Custom House Inc.

Elisha Black
Offices of Mental Health Practitioners (except Physicians)

$6,785 PPP Loan

Similar Companies near Grover Beach

In the Grover Beach area, 25 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 37 employees (compared to this company's 196) and received an average PPP loan of $254,140 (compared to this company's $2M).

Industry PPP Comparison Statistics

Nationwide, 326,480 businesses in the "Full-Service Restaurants" industry received a total of $42.51B in PPP loans. These businesses account for 3% of total PPP applications submitted, and received 5% of the total PPP funding allocated.

PPP recipients in this industry report an average of 22 employees, 89% lower than The Old Custom House Inc's reported 196 employees, and received an average PPP loan of $130,209, 93% lower than this company's loan of $2M.

SBA PPP loan data, payroll data, and salaries for The Old Custom House, Inc
CA

The Old Custom House, Inc

Entity: Corporation

Industry: Full-Service Restaurants

Location: Grover Beach, CA

Search All PPP Data

The Old Custom House, Inc is a corporation located at 200 13th St in Grover Beach, California that received a Coronavirus-related PPP loan from the SBA of $2,455,250.00 in April, 2020.

$ PPP Loan Information
Loan #3833387208

Loan Size:

$2.46M

Jobs Retained:

394

Loan Approved:

2020-04-27

Loan Status:

Paid in Full or Forgiven

Lender:

Pacific Western Bank

The Old Custom House, Inc in Grover Beach, CA received a Paycheck Protection Loan of $2.46M through Pacific Western 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 July, 2021.

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, The Old Custom House, Inc's 2019 payroll expenses are estimated to be at least $11.79M.

Based on their reported 394 jobs retained, this equals an estimated average yearly compensation of $29,912 per employee1

Reported PPP Proceed Usage:

On the PPP application, The Old Custom House, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $2,455,250
Because the loan received by The Old Custom House, Inc 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 Old Custom House, Inc in Grover Beach, CA

The Old Custom House, Inc
200 13th St
Grover Beach, CA 93433

Business Industry:
Full-Service Restaurants
NAICS code 722511

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: N

Rural / Urban: Urban

San Luis Obispo County, CA — SBA Office 0942 — Congressional District: CA-24

Similar Companies near Grover Beach

In the Grover Beach area, 25 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 37 employees (compared to this company's 394) and received an average PPP loan of $254,140 (compared to this company's $2.46M).

Industry PPP Comparison Statistics

Nationwide, 326,480 businesses in the "Full-Service Restaurants" industry received a total of $42.51B in PPP loans. These businesses account for 3% of total PPP applications submitted, and received 5% of the total PPP funding allocated.

PPP recipients in this industry report an average of 22 employees, 94% lower than The Old Custom House, Inc's reported 394 employees, and received an average PPP loan of $130,209, 95% lower than this company's loan of $2.46M.

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/the-old-custom-house-inc-grover-beach-ca