PPP Loan Data — NVE Inc, Beverly Hills, CA
NVE Inc is a corporation located at 9944 S Santa Monica Blvd Fl 1 in Beverly Hills, California that received a Coronavirus-related PPP loan from the SBA of $1,518,577.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
NVE Inc in Beverly Hills, CA received a Paycheck Protection Loan of $1.52M through Bank of America, National Association, 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, NVE Inc's 2019 payroll expenses are estimated to be at least $7.29M.
Based on their reported 80 jobs retained, this equals an estimated average yearly compensation of $91,115 per employee1
Reported PPP Proceed Usage:
On the PPP application, NVE Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,518,577
Business Information - NVE Inc in Beverly Hills, CA
9944 S Santa Monica Blvd Fl 1
Beverly Hills, CA 90212
Convention and Trade Show Organizers
NAICS code 561920
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 8,375 businesses in the "Convention and Trade Show Organizers" industry received a total of $653.49M 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 7 employees, 91% lower than NVE Inc's reported 80 employees, and received an average PPP loan of $78,029, 95% lower than this company's loan of $1.52M.
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Footnotes & Information
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