PPP Loan Data — Michael Morain, Templeton, CA
Entity: Sole Proprietorship
Location: Templeton, CATweet This • Search All PPP Data
Michael Morain is a sole proprietorship located at P O Box 1315 in Templeton, California that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Michael Morain in Templeton, CA received a Paycheck Protection Loan of $25,000 through Mechanics Bank, 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 June, 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, Michael Morain's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 10 jobs retained, this equals an estimated average yearly compensation of $12,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Michael Morain reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Michael Morain in Templeton, CA
P O Box 1315
Templeton, CA 93465
All Other Professional, Scientific, and Technical Services
NAICS code 541990
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Templeton
In the Templeton area, 6 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 10) and received an average PPP loan of $19,643 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Paso Market Walk Paso Choice, LLC
Paso Robles, CA
Los Alamos, CA
Paso Robles, CA
Industry PPP Comparison Statistics
Nationwide, 129,763 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a total of $7.41B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 5 employees, 50% lower than Michael Morain's reported 10 employees, and received an average PPP loan of $57,091, 128% higher than this company's loan of $25,000.
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Footnotes & Information
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