PPP Loan Data — Innovative Investment Partners, Burlingame, CA
Innovative Investment Partners is a corporation located at 851 Burlway Rd Suite 600 in Burlingame, California that received a Coronavirus-related PPP loan from the SBA of $25,176.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Wells Fargo Bank, National Association
Innovative Investment Partners in Burlingame, CA received a Paycheck Protection Loan of $25,176 through Wells Fargo Bank, National Association, which was approved in May, 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 January, 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, Innovative Investment Partners' 2019 payroll expenses are estimated to be at least $120,845.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,423 per employee1
Reported PPP Proceed Usage:
On the PPP application, Innovative Investment Partners reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,176
Business Information - Innovative Investment Partners in Burlingame, CA
851 Burlway Rd Suite 600
Burlingame, CA 94010
NAICS code 523910
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Burlingame
In the Burlingame area, 7 businesses in the "Miscellaneous Intermediation" industry received a PPP loan. These local businesses reported an average of 14 employees (compared to this company's 2) and received an average PPP loan of $81,683 (compared to this company's $25,176).
Similar Nearby Businesses Who Received PPP Funding:
Gemini Investment Palo Alto LLC
CMB Investments, Inc
Foundas Investments Inc. DBA The Blue Door Restaurant And Ba
Floral Sky Investment LLC
Begovich Family Investments I
Industry PPP Comparison Statistics
Nationwide, 8,414 businesses in the "Miscellaneous Intermediation" industry received a total of $504.92M 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 9 employees, 350% higher than Innovative Investment Partners' reported 2 employees, and received an average PPP loan of $60,010, 138% higher than this company's loan of $25,176.
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Footnotes & Information
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