PPP Loan Data — Family Service Association, Moreno Valley, CA
Family Service Association is a professional association located at 21250 Box Springs Rd Suite 212 in Moreno Valley, California that received a Coronavirus-related PPP loan from the SBA of $2,749,200.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Loan Source Incorporated
Family Service Association in Moreno Valley, CA received a Paycheck Protection Loan of $2.75M through Loan Source Incorporated, which was approved in April, 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
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, Family Service Association's 2019 payroll expenses are estimated to be at least $13.2M.
Based on their reported 344 jobs retained, this equals an estimated average yearly compensation of $38,361 per employee1
Reported PPP Proceed Usage:
On the PPP application, Family Service Association reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,445,335
- Utilities: $67,143
- Mortgage Interest: $53,370
- Health Care: $183,352
Business Information - Family Service Association in Moreno Valley, CA
21250 Box Springs Rd Suite 212
Moreno Valley, CA 92557
Other Individual and Family Services
NAICS code 624190
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Moreno Valley
In the Moreno Valley area, 2 businesses in the "Other Individual and Family Services" industry received a PPP loan. These local businesses reported an average of 174 employees (compared to this company's 344) and received an average PPP loan of $1,385,704 (compared to this company's $2.75M).
Similar Nearby Businesses Who Received PPP Funding:
Moreno Valley, CA
Industry PPP Comparison Statistics
Nationwide, 25,118 businesses in the "Other Individual and Family Services" industry received a total of $2.96B 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 16 employees, 95% lower than Family Service Association's reported 344 employees, and received an average PPP loan of $117,860, 96% lower than this company's loan of $2.75M.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!