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PPP Loan Data — Natural Health Medical Center Inc, Lawndale, CA

SBA PPP loan data, payroll data, and salaries for Natural Health Medical Center Inc
CA

Natural Health Medical Center Inc

Entity: Corporation

Industry: Food (Health) Supplement Stores

Location: Lawndale, CA

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Natural Health Medical Center Inc is a corporation located at 4469 Redondo Beach Blvd in Lawndale, California that received a Coronavirus-related PPP loan from the SBA of $25,247.00 in May, 2020.

The company has reported itself as a female owned business, and employed at least four people during the applicable loan loan period.

$ PPP Loan Information
Loan #5326507702

Loan Size:

$25,247

Jobs Retained:

4

Loan Approved:

2020-05-01

Loan Status:

Ongoing Loan

Lender:

Bank of America, National Association

Natural Health Medical Center Inc in Lawndale, CA received a Paycheck Protection Loan of $25,247 through Bank of America, National Association, which was approved in May, 2020.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Natural Health Medical Center Inc's 2019 payroll expenses are estimated to be at least $121,186.

Based on their reported 4 jobs retained, this equals an estimated average yearly compensation of $30,297 per employee1

Reported PPP Proceed Usage:

On the PPP application, Natural Health Medical Center Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $25,247

Business Information - Natural Health Medical Center Inc in Lawndale, CA

Natural Health Medical Center Inc
4469 Redondo Beach Blvd
Lawndale, CA 90260

Business Industry:
Food (Health) Supplement Stores
NAICS code 446191

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Female Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: New Business or 2 years or less

LMI Zone: Y

HUBZone: N

Rural / Urban: Urban

Los Angeles County, CA — SBA Office 0914 — Congressional District: CA-43

Similar Companies near Lawndale

In the Lawndale area, 2 businesses in the "Food (Health) Supplement Stores" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 4) and received an average PPP loan of $20,956 (compared to this company's $25,247).

Similar Nearby Businesses Who Received PPP Funding:

Mikysha Tolbert
Lawndale, CA

$16,665 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 8,057 businesses in the "Food (Health) Supplement Stores" industry received a total of $301.91M 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 5 employees, 25% higher than Natural Health Medical Center Inc's reported 4 employees, and received an average PPP loan of $37,471, 48% higher than this company's loan of $25,247.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

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Footnotes & Information

1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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Source: www.federalpay.org/paycheck-protection-program/natural-health-medical-center-inc-lawndale-ca