PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Knight Recovery Inc, Lynwood, CA

ALERT: There are 2 PPP loans for a total of $42,495 in our database for businesses with the name "Knight Recovery Inc" in Lynwood, CA. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Knight Recovery Inc
CA

Knight Recovery Inc

Entity: Corporation

Industry: Repossession Services

Location: Lynwood, CA

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Knight Recovery Inc is a corporation located at 11640 Louise Ave in Lynwood, California that received a Coronavirus-related PPP loan from the SBA of $17,500.00 in April, 2021.

The company has reported itself as a White male owned business, and employed at least two people during the applicable loan loan period.

$ PPP Loan Information
Loan #9763338800

Loan Size:

$17,500

Jobs Retained:

2

Loan Approved:

2021-04-23

Loan Status:

Active Un-Disbursed

Lender:

Bank of the West
PPP Funds Undisbursed

Knight Recovery Inc in Lynwood, CA received a Paycheck Protection Loan of $17,500 through Bank of the West, which was approved in April, 2021.

While this loan has been approved by the Small Business Administration, the lender has not reported to the SBA that the loan funds were disbursed to the borrower. According to SBA records, a total of $17,500 in approved PPP funding has not been disbursed. 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

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Knight Recovery Inc's 2019 payroll expenses are estimated to be at least $84,000.

Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $42,000 per employee1

Reported PPP Proceed Usage:

On the PPP application, Knight Recovery Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $17,499

Business Information - Knight Recovery Inc in Lynwood, CA

Knight Recovery Inc
11640 Louise Ave
Lynwood, CA 90262

Business Industry:
Repossession Services
NAICS code 561491

Business Owner Demographics

Race: White

Ethnicity: Unreported

Gender: Male Owned

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: Y

Rural / Urban: Urban

Los Angeles County, CA — SBA Office 0914 — Congressional District: CA-44

Industry PPP Comparison Statistics

Nationwide, 1,240 businesses in the "Repossession Services" industry received a total of $83.36M 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 8 employees, 300% higher than Knight Recovery Inc's reported 2 employees, and received an average PPP loan of $67,230, 284% higher than this company's loan of $17,500.

SBA PPP loan data, payroll data, and salaries for Knight Recovery Inc
CA

Knight Recovery Inc

Entity: Corporation

Industry: All Other Outpatient Care Centers

Location: Lynwood, CA

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Knight Recovery Inc is a corporation located at 11640 Louise Ave in Lynwood, California that received a Coronavirus-related PPP loan from the SBA of $24,995.00 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 #7012187306

Loan Size:

$24,995

Jobs Retained:

3

Loan Approved:

2020-04-30

Loan Status:

Paid in Full or Forgiven

Lender:

Bank of the West

Knight Recovery Inc in Lynwood, CA received a Paycheck Protection Loan of $24,995 through Bank of the West, 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 May, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Knight Recovery Inc's 2019 payroll expenses are estimated to be at least $119,976.

Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $39,992 per employee1

Reported PPP Proceed Usage:

On the PPP application, Knight Recovery Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $24,995

Business Information - Knight Recovery Inc in Lynwood, CA

Knight Recovery Inc
11640 Louise Ave
Lynwood, CA 90262

Business Industry:
All Other Outpatient Care Centers
NAICS code 621498

Business Owner Demographics

Race: White

Ethnicity: Unreported

Gender: Male Owned

Veteran Status: Unreported

Business Demographics

Business Age: New Business or 2 years or less

LMI Zone: Y

HUBZone: Y

Rural / Urban: Urban

Los Angeles County, CA — SBA Office 0914 — Congressional District: CA-44

Similar Companies near Lynwood

In the Lynwood area, 3 businesses in the "All Other Outpatient Care Centers" 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 $21,960 (compared to this company's $24,995).

Industry PPP Comparison Statistics

Nationwide, 20,239 businesses in the "All Other Outpatient Care Centers" industry received a total of $1.82B 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, 200% higher than Knight Recovery Inc's reported 3 employees, and received an average PPP loan of $90,010, 260% higher than this company's loan of $24,995.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/knight-recovery-inc-lynwood-ca