PPP Loan Data — Turf Star Inc, Hayward, CA
Turf Star Inc is a corporation located at 2438 Radley Ct in Hayward, California that received a Coronavirus-related PPP loan from the SBA of $2,031,538.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
Turf Star Inc in Hayward, CA received a Paycheck Protection Loan of $2.03M through Bank of America, National Association, 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, Turf Star Inc's 2019 payroll expenses are estimated to be at least $9.75M.
Based on their reported 124 jobs retained, this equals an estimated average yearly compensation of $78,640 per employee1
Reported PPP Proceed Usage:
On the PPP application, Turf Star Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,031,538
Business Information - Turf Star Inc in Hayward, CA
2438 Radley Ct
Hayward, CA 94545
Office Machinery and Equipment Rental and Leasing
NAICS code 532420
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Hayward
In the Hayward area, 2 businesses in the "Office Machinery and Equipment Rental and Leasing" industry received a PPP loan. These local businesses reported an average of 64 employees (compared to this company's 124) and received an average PPP loan of $1,052,269 (compared to this company's $2.03M).
Similar Nearby Businesses Who Received PPP Funding:
A A Office Equipment Co Inc
Industry PPP Comparison Statistics
Nationwide, 1,696 businesses in the "Office Machinery and Equipment Rental and Leasing" industry received a total of $232.46M 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 11 employees, 91% lower than Turf Star Inc's reported 124 employees, and received an average PPP loan of $137,065, 93% lower than this company's loan of $2.03M.
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Footnotes & Information
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