PPP Loan Data — Downey Escrow Company, Downey, CA
Downey Escrow Company is a corporation located at 7826 Florence Ave in Downey, California that received a Coronavirus-related PPP loan from the SBA of $45,845.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of Santa Clarita
Downey Escrow Company in Downey, CA received a Paycheck Protection Loan of $45,845 through Bank of Santa Clarita, which was approved in April, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 2. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, Downey Escrow Company's 2019 payroll expenses are estimated to be at least $220,056 (not accounting for salary amounts > $100k).
Because the 2 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Downey Escrow Company reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $45,845
Business Information - Downey Escrow Company in Downey, CA
7826 Florence Ave
Downey, CA 90240
Other Activities Related to Real Estate
NAICS code 531390
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Downey
In the Downey area, 54 businesses in the "Other Activities Related to Real Estate" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 2) and received an average PPP loan of $35,539 (compared to this company's $45,845).
Similar Nearby Businesses Who Received PPP Funding:
Vilma R Ortiz
Investment Bankers Network Inc
Benevolence Escrow, Inc
Ultimate Sky Works Inc
Industry PPP Comparison Statistics
Nationwide, 79,334 businesses in the "Other Activities Related to Real Estate" industry received a total of $3.69B 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, 100% higher than Downey Escrow Company's reported 2 employees, and received an average PPP loan of $46,456, 1% higher than this company's loan of $45,845.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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