PPP Loan Data — Interim, Inc, Monterey, CA
Entity: Non-profit Organization
Location: Monterey, CATweet This • Search All PPP Data
Interim, Inc is a non-profit organization located at 604 Pearl St in Monterey, California that received a Coronavirus-related PPP loan from the SBA of $2,354,052.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Interim, Inc in Monterey, CA received a Paycheck Protection Loan of $2.35M through Mechanics 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, Interim, Inc's 2019 payroll expenses are estimated to be at least $11.3M.
Based on their reported 236 jobs retained, this equals an estimated average yearly compensation of $47,879 per employee1
Reported PPP Proceed Usage:
On the PPP application, Interim, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,354,052
Business Information - Interim, Inc in Monterey, CA
604 Pearl St
Monterey, CA 93940
Residential Mental Health and Substance Abuse Facilities
NAICS code 623220
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 3,600 businesses in the "Residential Mental Health and Substance Abuse Facilities" industry received a total of $1.06B 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 36 employees, 85% lower than Interim, Inc's reported 236 employees, and received an average PPP loan of $295,104, 87% lower than this company's loan of $2.35M.
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Footnotes & Information
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