PPP Loan Data — Flash Merch, LLC, Los Angeles, CA
Flash Merch, LLC is a limited liability company (LLC) located at 11444 W Olympic Blvd Floor 11 in Los Angeles, California that received a Coronavirus-related PPP loan from the SBA of $46,127.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least three people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:City National Bank
Flash Merch, LLC in Los Angeles, CA received a Paycheck Protection Loan of $46,127 through City 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 April, 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, Flash Merch, LLC's 2019 payroll expenses are estimated to be at least $221,410.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $73,803 per employee1
Reported PPP Proceed Usage:
On the PPP application, Flash Merch, LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $43,332
- Health Care: $2,795
Business Information - Flash Merch, LLC in Los Angeles, CA
11444 W Olympic Blvd Floor 11
Los Angeles, CA 90064
Gift, Novelty, and Souvenir Stores
NAICS code 453220
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
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 Los Angeles
In the Los Angeles area, 5 businesses in the "Gift, Novelty, and Souvenir Stores" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 3) and received an average PPP loan of $19,519 (compared to this company's $46,127).
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Industry PPP Comparison Statistics
Nationwide, 17,351 businesses in the "Gift, Novelty, and Souvenir Stores" industry received a total of $573.27M 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 6 employees, 100% higher than Flash Merch, LLC's reported 3 employees, and received an average PPP loan of $33,040, 28% lower than this company's loan of $46,127.
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Footnotes & Information
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