PPP Loan Data — Michelle M Killian Sole Prop, Torrance, CA
Michelle M Killian Sole Prop is a sole proprietorship located at 2521 W Carson St in Torrance, California that received a Coronavirus-related PPP loan from the SBA of $25,462.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
Michelle M Killian Sole Prop in Torrance, CA received a Paycheck Protection Loan of $25,462 through Bank of America, 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, Michelle M Killian Sole Prop's 2019 payroll expenses are estimated to be at least $122,218.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $61,109 per employee1
Reported PPP Proceed Usage:
On the PPP application, Michelle M Killian Sole Prop reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,462
Business Information - Michelle M Killian Sole Prop in Torrance, CA
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
PPP recipients in this industry report an average of 0 employees, 100% lower than Michelle M Killian Sole Prop's reported 2 employees, and received an average PPP loan of $0, 100% lower than this company's loan of $25,462.
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Footnotes & Information
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