Lord, Ficks, Zayed And Associates, Inc is a corporation located at 2461 208th St in Torrance, California that received a Coronavirus-related PPP loan from the SBA of $70,000.00 in May, 2020.

$ PPP Loan Information

Loan #9992507702

Lord, Ficks, Zayed And Associates, Inc in Torrance, CA received a Paycheck Protection Loan of $70,000 through MUFG Union 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 April, 2021.

The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 3 jobs reported as retained on the PPP application³. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.

The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 3. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

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, Lord, Ficks, Zayed And Associates, Inc's 2019 payroll expenses are estimated to be at least $336,000 (not accounting for salary amounts > $100k).

Because the 3 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.

Reported PPP Proceed Usage:

On the PPP application, Lord, Ficks, Zayed And Associates, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

• Payroll: $70,000

Business Information - Lord, Ficks, Zayed And Associates, Inc in Torrance, CA

Similar Companies near Torrance

In the Torrance area, 21 businesses in the "Engineering Services" industry received a PPP loan. These local businesses reported an average of 14 employees (compared to this company's 3) and received an average PPP loan of $294,212 (compared to this company's $70,000).

Industry PPP Comparison Statistics

Nationwide, 47,152 businesses in the "Engineering Services" industry received a total of $9.19B 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 13 employees, 333% higher than Lord, Ficks, Zayed And Associates, Inc's reported 3 employees, and received an average PPP loan of $194,873, 178% higher than this company's loan of $70,000.