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PPP Loan Data — Volunteers Of America, Southwest California, Incorporation, San Diego, CA

SBA PPP loan data, payroll data, and salaries for Volunteers Of America, Southwest California, Incorporation
CA Nonprofit Organization

Volunteers Of America, Southwest California, Incorporation

Entity: Non-profit Organization

Industry: Child Day Care Services

Location: San Diego, CA

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Volunteers Of America, Southwest California, Incorporation is a non-profit organization located at 3530 Camino Del Rio North #300 in San Diego, California that received a Coronavirus-related PPP loan from the SBA of $2,593,700.00 in May, 2020.

$ PPP Loan Information
Loan #8353847709

Loan Size:

$2.59M

Jobs Retained:

201

Loan Approved:

2020-05-01

Loan Status:

Ongoing Loan

Lender:

Zions Bank, A Division of

Volunteers Of America, Southwest California, Incorporation in San Diego, CA received a Paycheck Protection Loan of $2.59M through Zions Bank, A Division of, which was approved in May, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

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.

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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, Volunteers Of America, Southwest California, Incorporation's 2019 payroll expenses are estimated to be at least $12.45M.

Based on their reported 201 jobs retained, this equals an estimated average yearly compensation of $61,939 per employee1

Reported PPP Proceed Usage:

On the PPP application, Volunteers Of America, Southwest California, Incorporation reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $2,593,700
Because the loan received by Volunteers Of America, Southwest California, Incorporation 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 - Volunteers Of America, Southwest California, Incorporation in San Diego, CA

Volunteers Of America, Southwest California, Incorporation
3530 Camino Del Rio North #300
San Diego, CA 92108

Business Industry:
Child Day Care Services
NAICS code 624410

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

San Diego County, CA — SBA Office 0954 — Congressional District: CA-53

Businesses Using Same Address:

There is one other business that received a PPP loan registered to the same address as Volunteers Of America, Southwest California, Incorporation.

Volunteers Of America Community Education And Development Co
All Other Miscellaneous Schools and Instruction

$906,900 PPP Loan

Similar Companies near San Diego

In the San Diego area, 18 businesses in the "Child Day Care Services" industry received a PPP loan. These local businesses reported an average of 22 employees (compared to this company's 201) and received an average PPP loan of $204,140 (compared to this company's $2.59M).

Industry PPP Comparison Statistics

Nationwide, 128,982 businesses in the "Child Day Care Services" industry received a total of $5.47B 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 8 employees, 96% lower than Volunteers Of America, Southwest California, Incorporation's reported 201 employees, and received an average PPP loan of $42,417, 98% lower than this company's loan of $2.59M.

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/volunteers-of-america-southwest-california-incorporation-san-diego-ca