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PPP Loan Data — Tuttle Family Enterprises, Inc, Chatsworth, CA

SBA PPP loan data, payroll data, and salaries for Tuttle Family Enterprises, Inc
CA

Tuttle Family Enterprises, Inc

Entity: Corporation

Industry: Other Personal and Household Goods Repair and Maintenance

Location: Chatsworth, CA

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Tuttle Family Enterprises, Inc is a corporation located at 21020 Superior Street in Chatsworth, California that received a Coronavirus-related PPP loan from the SBA of $4,312,275.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least 288 people during the applicable loan loan period.

$ PPP Loan Information
Loan #4015587103

Loan Size:

$4.31M

Jobs Retained:

288

Loan Approved:

2020-04-12

Loan Status:

Paid in Full or Forgiven

Lender:

MUFG Union Bank, National Association

Tuttle Family Enterprises, Inc in Chatsworth, CA received a Paycheck Protection Loan of $4.31M through MUFG Union Bank, National Association, 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 November, 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, Tuttle Family Enterprises, Inc's 2019 payroll expenses are estimated to be at least $20.7M.

Based on their reported 288 jobs retained, this equals an estimated average yearly compensation of $71,871 per employee1

Reported PPP Proceed Usage:

On the PPP application, Tuttle Family Enterprises, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $4,312,275
Because the loan received by Tuttle Family Enterprises, 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 - Tuttle Family Enterprises, Inc in Chatsworth, CA

Tuttle Family Enterprises, Inc
21020 Superior Street
Chatsworth, CA 91311

Business Industry:
Other Personal and Household Goods Repair and Maintenance
NAICS code 811490

Business Owner Demographics

Race: White

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Los Angeles County, CA — SBA Office 0914 — Congressional District: CA-25

Businesses Using Same Address:

There is one other business that received a PPP loan registered to the same address as Tuttle Family Enterprises, Inc.

Peerless Preferred Maintenance Inc
Janitorial Services

$144,754 PPP Loan

Similar Companies near Chatsworth

In the Chatsworth area, 6 businesses in the "Other Personal and Household Goods Repair and Maintenance" industry received a PPP loan. These local businesses reported an average of 56 employees (compared to this company's 288) and received an average PPP loan of $738,546 (compared to this company's $4.31M).

Industry PPP Comparison Statistics

Nationwide, 25,528 businesses in the "Other Personal and Household Goods Repair and Maintenance" industry received a total of $675.95M 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 3 employees, 99% lower than Tuttle Family Enterprises, Inc's reported 288 employees, and received an average PPP loan of $26,479, 99% lower than this company's loan of $4.31M.

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.

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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/tuttle-family-enterprises-inc-chatsworth-ca