PPP Loan Data — New Possibilities, Inc, Toluca Lake, CA
New Possibilities, Inc is a subchapter s corporation located at 10011 Tikita Pl in Toluca Lake, California that received a Coronavirus-related PPP loan from the SBA of $24,897.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
New Possibilities, Inc in Toluca Lake, CA received a Paycheck Protection Loan of $24,897 through Quontic Bank, which was approved in April, 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, New Possibilities, Inc's 2019 payroll expenses are estimated to be at least $119,506.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $59,753 per employee1
Reported PPP Proceed Usage:
On the PPP application, New Possibilities, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,897
Business Information - New Possibilities, Inc in Toluca Lake, CA
10011 Tikita Pl
Toluca Lake, CA 91602
Professional and Management Development Training
NAICS code 611430
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Toluca Lake
In the Toluca Lake area, 4 businesses in the "Professional and Management Development Training" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 2) and received an average PPP loan of $26,591 (compared to this company's $24,897).
Similar Nearby Businesses Who Received PPP Funding:
North Hollywood, CA
Career Activate Inc
North Hollywood, CA
Los Angeles, CA
Industry PPP Comparison Statistics
Nationwide, 12,077 businesses in the "Professional and Management Development Training" industry received a total of $602.02M 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 4 employees, 100% higher than New Possibilities, Inc's reported 2 employees, and received an average PPP loan of $49,849, 100% higher than this company's loan of $24,897.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!