PPP Loan Data — First Team Real Estate Orange County, Irvine, CA
First Team Real Estate Orange County is a corporation located at 108 Pacifica Suite 300 in Irvine, California that received a Coronavirus-related PPP loan from the SBA of $4,721,600.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 297 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:East West Bank
First Team Real Estate Orange County in Irvine, CA received a Paycheck Protection Loan of $4.72M through East West Bank, 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, First Team Real Estate Orange County's 2019 payroll expenses are estimated to be at least $22.66M.
Based on their reported 297 jobs retained, this equals an estimated average yearly compensation of $76,309 per employee1
Reported PPP Proceed Usage:
On the PPP application, First Team Real Estate Orange County reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $4,721,600
Business Information - First Team Real Estate Orange County in Irvine, CA
108 Pacifica Suite 300
Irvine, CA 92618
Offices of Real Estate Agents and Brokers
NAICS code 531210
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
Similar Companies near Irvine
In the Irvine area, 115 businesses in the "Offices of Real Estate Agents and Brokers" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 297) and received an average PPP loan of $93,679 (compared to this company's $4.72M).
Similar Nearby Businesses Who Received PPP Funding:
Saris Realty Inc DBA ESQ Real Estate DBA Title Recovery Serv
Benjamin Management Group Inc
Brooke Funding Corporation
Industry PPP Comparison Statistics
Nationwide, 255,794 businesses in the "Offices of Real Estate Agents and Brokers" industry received a total of $5.75B 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 2 employees, 99% lower than First Team Real Estate Orange County's reported 297 employees, and received an average PPP loan of $22,469, 100% lower than this company's loan of $4.72M.
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Footnotes & Information
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