PPP Loan Data — Trustees Of The Process Distribution Group 401(K) And Employ, San Jose, CA
Trustees Of The Process Distribution Group 401(K) And Employ is an employee stock ownership plan(esop) located at 5225 Hellyer Ave Ste 250 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 Status:Ongoing Loan
Trustees Of The Process Distribution Group 401(K) And Employ in San Jose, CA received a Paycheck Protection Loan of $3.16M through Comerica Bank, which was approved in April, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
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, Trustees Of The Process Distribution Group 401(K) And Employ's 2019 payroll expenses are estimated to be at least $15.17M.
Based on their reported 177 jobs retained, this equals an estimated average yearly compensation of $85,684 per employee1
Reported PPP Proceed Usage:
On the PPP application, Trustees Of The Process Distribution Group 401(K) And Employ reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,527,738
- Mortgage Interest: $631,862
Business Information - Trustees Of The Process Distribution Group 401(K) And Employ in San Jose, CA
5225 Hellyer Ave Ste 250
San Jose, CA 95138
Automotive Parts and Accessories Stores
NAICS code 441310
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 15,992 businesses in the "Automotive Parts and Accessories Stores" industry received a total of $1.15B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
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 $72,127, 98% lower than this company's loan of $3.16M.
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Footnotes & Information
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