PPP Loan Data — Elite Data Processing, Inc, Van Nuys, CA
Elite Data Processing, Inc is a corporation located at 16600 Sherman Way Suite 205 in Van Nuys, California that received a Coronavirus-related PPP loan from the SBA of $25,400.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least four people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Woodforest National Bank
Elite Data Processing, Inc in Van Nuys, CA received a Paycheck Protection Loan of $25,400 through Woodforest National 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 June, 2021.
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, Elite Data Processing, Inc's 2019 payroll expenses are estimated to be at least $121,920.
Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,480 per employee1
Reported PPP Proceed Usage:
On the PPP application, Elite Data Processing, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,400
Business Information - Elite Data Processing, Inc in Van Nuys, CA
16600 Sherman Way Suite 205
Van Nuys, CA 91406
All Other Nondepository Credit Intermediation
NAICS code 522298
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 2,800 businesses in the "All Other Nondepository Credit Intermediation" industry received a total of $241.07M 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 8 employees, 100% higher than Elite Data Processing, Inc's reported 4 employees, and received an average PPP loan of $86,096, 239% higher than this company's loan of $25,400.
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Footnotes & Information
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