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PPP Loan Data — Young's Commercial Transfer Inc,
Porterville, CA
Young's Commercial Transfer Inc
Entity: Corporation
Industry: General Freight Trucking, Local
Location: Porterville, CA
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Young's Commercial Transfer Inc is a corporation located at 2075 W Scranton Ave in Porterville, California that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in February, 2021.
The company has reported itself as a White male owned business, and employed at least 299 people during the applicable loan loan period.
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PPP Loan Information
Loan #9757098401
Loan Size:
Jobs Retained:
299Loan Approved:
2021-02-17Loan Status:
Ongoing LoanLender:
Suncrest BankYoung's Commercial Transfer Inc in Porterville, CA received a Paycheck Protection Loan of $2M through Suncrest Bank, which was approved in February, 2021.
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.
Read MoreUnderstanding 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 MoreBased 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, Young's Commercial Transfer Inc's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 299 jobs retained, this equals an estimated average yearly compensation of $32,107 per employee1
Reported PPP Proceed Usage:
On the PPP application, Young's Commercial Transfer Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,994
- Utilities: $1
Business Information - Young's Commercial Transfer Inc in Porterville, CA
2075 W Scranton Ave
Porterville, CA 93257
Business Industry:
General Freight Trucking, Local
NAICS code 484110
Business Owner Demographics
Race: White
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: Y
Rural / Urban: Urban
Similar Companies near Porterville
In the Porterville area, 36 businesses in the "General Freight Trucking, Local" industry received a PPP loan. These local businesses reported an average of 10 employees (compared to this company's 299) and received an average PPP loan of $70,124 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Claudia Ortega
Porterville, CA
Rudy Valdez
Porterville, CA
Francisco Aldana Morales
Porterville, CA
Jesus Quintero
Porterville, CA
Genaro Valdezvazquez
Porterville, CA
Hernan Cortez
Porterville, CA
Alvaro C Sepulveda
Porterville, CA
JD Fernandez LLC
Pixley, CA
Todd Smothermon
Porterville, CA
Industry PPP Comparison Statistics
Nationwide, 172,322 businesses in the "General Freight Trucking, Local" industry received a total of $6.52B in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 4 employees, 99% lower than Young's Commercial Transfer Inc's reported 299 employees, and received an average PPP loan of $37,823, 98% lower than this company's loan of $2M.
Young's Commercial Transfer, Inc
Entity: Corporation
Industry: General Freight Trucking, Long-Distance, Truckload
Location: Porterville, CA
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Young's Commercial Transfer, Inc is a corporation located at 2075 Scranton Ave in Porterville, California that received a Coronavirus-related PPP loan from the SBA of $3,571,400.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 280 people during the applicable loan loan period.
$
PPP Loan Information
Loan #8832777001
Loan Size:
Jobs Retained:
280Loan Approved:
2020-04-08Loan Status:
Paid in Full or ForgivenLender:
Suncrest BankYoung's Commercial Transfer, Inc in Porterville, CA received a Paycheck Protection Loan of $3.57M through Suncrest Bank, 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 MoreUnderstanding 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 MoreBased 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, Young's Commercial Transfer, Inc's 2019 payroll expenses are estimated to be at least $17.14M.
Based on their reported 280 jobs retained, this equals an estimated average yearly compensation of $61,224 per employee1
Reported PPP Proceed Usage:
On the PPP application, Young's Commercial Transfer, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $3,571,400
Business Information - Young's Commercial Transfer, Inc in Porterville, CA
2075 Scranton Ave
Porterville, CA 93257
Business Industry:
General Freight Trucking, Long-Distance, Truckload
NAICS code 484121
Business Owner Demographics
Race: Unreported
Ethnicity: Unreported
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: N
Rural / Urban: Urban
Similar Companies near Porterville
In the Porterville area, 11 businesses in the "General Freight Trucking, Long-Distance, Truckload" industry received a PPP loan. These local businesses reported an average of 39 employees (compared to this company's 280) and received an average PPP loan of $462,766 (compared to this company's $3.57M).
Similar Nearby Businesses Who Received PPP Funding:
Tony Campos Trucking
Porterville, CA
Joaquin Ceballos-Aguilar
Porterville, CA
Jose Romero
Pixley, CA
Teresa Navarro
Porterville, CA
Jaime Castro
Porterville, CA
J L R Enterprise Inc
Porterville, CA
CT Commodities Inc
Pixley, CA
Ruben Velasco Trucking
Pixley, CA
Industry PPP Comparison Statistics
Nationwide, 112,754 businesses in the "General Freight Trucking, Long-Distance, Truckload" industry received a total of $4.56B 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 4 employees, 99% lower than Young's Commercial Transfer, Inc's reported 280 employees, and received an average PPP loan of $40,459, 99% lower than this company's loan of $3.57M.
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.
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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