PPP Loan Data — NAM Phuong Co. Inc, Arcadia, CA
NAM Phuong Co. Inc is a subchapter s corporation located at 443 Las Tunas Dr in Arcadia, California that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least three people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:East West Bank
NAM Phuong Co. Inc in Arcadia, CA received a Paycheck Protection Loan of $25,000 through East West 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 March, 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, NAM Phuong Co. Inc's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $40,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, NAM Phuong Co. Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - NAM Phuong Co. Inc in Arcadia, CA
443 Las Tunas Dr
Arcadia, CA 91007
Fish and Seafood Merchant Wholesalers
NAICS code 424460
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Arcadia
In the Arcadia area, 4 businesses in the "Fish and Seafood Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 3) and received an average PPP loan of $51,999 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Ching Jiang Fisheries Products Inc
Zion Enterprise Corp
Industry PPP Comparison Statistics
Nationwide, 3,281 businesses in the "Fish and Seafood Merchant Wholesalers" industry received a total of $360.62M 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 12 employees, 300% higher than NAM Phuong Co. Inc's reported 3 employees, and received an average PPP loan of $109,912, 340% higher than this company's loan of $25,000.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!