PPP Loan Data — Liberty Tax Service, Freedom, CA
Liberty Tax Service is a partnership located at 1709a Freedom Blvd in Freedom, California that received a Coronavirus-related PPP loan from the SBA of $24,885.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Wells Fargo Bank, National Association
Liberty Tax Service in Freedom, CA received a Paycheck Protection Loan of $24,885 through Wells Fargo Bank, National Association, which was approved in May, 2020.
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, Liberty Tax Service's 2019 payroll expenses are estimated to be at least $119,448.
Based on their reported 12 jobs retained, this equals an estimated average yearly compensation of $9,954 per employee1
Reported PPP Proceed Usage:
On the PPP application, Liberty Tax Service reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,885
Business Information - Liberty Tax Service in Freedom, CA
1709a Freedom Blvd
Freedom, CA 95076
Tax Preparation Services
NAICS code 541213
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Freedom
In the Freedom area, 10 businesses in the "Tax Preparation Services" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 12) and received an average PPP loan of $29,235 (compared to this company's $24,885).
Similar Nearby Businesses Who Received PPP Funding:
Melchor And Associates LLC
Franky's Tax Services
Peter Serventi CPA
Castro Bookkeeping & Tax Service
Dorantes Tax And Accountig, Inc
Monserrat Tax And Business Center LLC
Universa Agency Insurance And Tax Servic
Industry PPP Comparison Statistics
Nationwide, 50,853 businesses in the "Tax Preparation Services" industry received a total of $1.1B 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 3 employees, 75% lower than Liberty Tax Service's reported 12 employees, and received an average PPP loan of $21,684, 13% lower than this company's loan of $24,885.
FederalPay's PPP Information Policy
Footnotes & Information
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