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

PPP Loan Data — Tieu Family Corporation, Garden Grove, CA

ALERT: There are 2 PPP loans for a total of $87,312 in our database for businesses with the name "Tieu Family Corporation" in Garden Grove, 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 Tieu Family Corporation
CA

Tieu Family Corporation

Entity: Corporation

Industry: Full-Service Restaurants

Location: Garden Grove, CA

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Tieu Family Corporation is a corporation located at 13265 Harbor Blvd in Garden Grove, California that received a Coronavirus-related PPP loan from the SBA of $50,932.00 in March, 2021.

The company has reported itself as an Asian male owned business, and employed at least two people during the applicable loan loan period.

$ PPP Loan Information
Loan #8058898510

Loan Size:

$50,932

Jobs Retained:

2

Loan Approved:

2021-03-08

Loan Status:

Paid in Full or Forgiven

Lender:

Bank of America, National Association
Likely Employment Reduction3

Tieu Family Corporation in Garden Grove, CA received a Paycheck Protection Loan of $50,932 through Bank of America, National Association, which was approved in March, 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.

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 2 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 2. 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, Tieu Family Corporation's 2019 payroll expenses are estimated to be at least $244,474 (not accounting for salary amounts > $100k).

Because the 2 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, Tieu Family Corporation reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $50,927
  • Utilities: $1

Business Information - Tieu Family Corporation in Garden Grove, CA

Tieu Family Corporation
13265 Harbor Blvd
Garden Grove, CA 92843

Business Industry:
Full-Service Restaurants
NAICS code 722511

Business Owner Demographics

Race: Asian

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: N

Rural / Urban: Urban

Orange County, CA — SBA Office 0920 — Congressional District: CA-46

Similar Companies near Garden Grove

In the Garden Grove area, 172 businesses in the "Full-Service Restaurants" industry received a PPP loan. These local businesses reported an average of 24 employees (compared to this company's 2) and received an average PPP loan of $114,435 (compared to this company's $50,932).

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, 1000% higher than Tieu Family Corporation's reported 2 employees, and received an average PPP loan of $130,209, 156% higher than this company's loan of $50,932.

SBA PPP loan data, payroll data, and salaries for Tieu Family Corporation
CA

Tieu Family Corporation

Entity: Corporation

Industry: All Other Miscellaneous Store Retailers (except Tobacco Stores)

Location: Garden Grove, CA

Search All PPP Data

Tieu Family Corporation is a corporation located at 13265 Harbor Blvd in Garden Grove, California that received a Coronavirus-related PPP loan from the SBA of $36,380.00 in May, 2020.

The company has reported itself as an Asian male owned business, and employed at least eleven people during the applicable loan loan period.

$ PPP Loan Information
Loan #9924157310

Loan Size:

$36,380

Jobs Retained:

11

Loan Approved:

2020-05-03

Loan Status:

Paid in Full or Forgiven

Lender:

Bank of America, National Association

Tieu Family Corporation in Garden Grove, CA received a Paycheck Protection Loan of $36,380 through Bank of America, National Association, which was approved in May, 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 April, 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, Tieu Family Corporation's 2019 payroll expenses are estimated to be at least $174,624.

Based on their reported 11 jobs retained, this equals an estimated average yearly compensation of $15,875 per employee1

Reported PPP Proceed Usage:

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

  • Payroll: $36,380

Business Information - Tieu Family Corporation in Garden Grove, CA

Tieu Family Corporation
13265 Harbor Blvd
Garden Grove, CA 92843

Business Owner Demographics

Race: Asian

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: N

Rural / Urban: Urban

Orange County, CA — SBA Office 0920 — Congressional District: CA-46

Similar Companies near Garden Grove

In the Garden Grove area, 54 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 11) and received an average PPP loan of $16,936 (compared to this company's $36,380).

Industry PPP Comparison Statistics

Nationwide, 146,534 businesses in the "All Other Miscellaneous Store Retailers (except Tobacco Stores)" industry received a total of $5.11B 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 4 employees, 64% lower than Tieu Family Corporation's reported 11 employees, and received an average PPP loan of $34,905, 4% lower than this company's loan of $36,380.

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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Source: www.federalpay.org/paycheck-protection-program/tieu-family-corporation-garden-grove-ca