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PPP Loan Data — Trustees Of The Process Distribution Group 401(K) And Employ, San Jose, CA

SBA PPP loan data, payroll data, and salaries for Trustees Of The Process Distribution Group 401(K) And Employ
CA

Trustees Of The Process Distribution Group 401(K) And Employ

Entity: Employee Stock Ownership Plan (esop)

Industry: Automotive Parts and Accessories Stores

Location: San Jose, CA

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Trustees Of The Process Distribution Group 401(K) And Employ is an employee stock ownership plan (esop) located at 5225 Hellyer Ave in San Jose, California that received a Coronavirus-related PPP loan from the SBA of $3,159,600.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.16M

Jobs Retained:

177

Loan Approved:

2020-04-06

Lender:

COMERICA BANK

Trustees Of The Process Distribution Group 401(K) And Employ received a Paycheck Protection Loan of $3.16M through COMERICA BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Trustees Of The Process Distribution Group 401(K) And Employ's total 2019 payroll expenses were approximately $15.17M in order to qualify for the PPP loan amount received.

Based on their reported 177 jobs retained, this equals an estimated average yearly compensation of $85,684 per employee1.

Because the loan received by Trustees Of The Process Distribution Group 401(K) And Employ 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 - Trustees Of The Process Distribution Group 401(K) And Employ in San Jose, CA

Trustees Of The Process Distribution Group 401(K) And Employ
5225 Hellyer Ave
San Jose, CA 95138

Business Industry

Automotive Parts and Accessories Stores (NAICS code 441310)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: CA-19

Industry PPP Comparison Statistics

Nationwide, 11,618 businesses in the "Automotive Parts and Accessories Stores" industry received a total of $952,726,641.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 9 employees, 95% lower than Trustees Of The Process Distribution Group 401(K) And Employ's reported 177 employees, and received an average PPP loan of $82,004, 97% lower than this company's loan of $3.16M.

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/trustees-of-the-process-distribution-group-401-k-and-employ-san-jose-ca