PPP Loan Data — Onpoint Financial, Phoenix, AZ
Onpoint Financial is a limited liability company (LLC) located at 7600 N. 15th St., Suite 150-2 in Phoenix, Arizona that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
The company has reported itself as a White male veteran owned business, and employed at least six people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Onpoint Financial in Phoenix, AZ received a Paycheck Protection Loan of $25,000 through MidFirst 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, Onpoint Financial's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $20,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Onpoint Financial reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Onpoint Financial in Phoenix, AZ
7600 N. 15th St., Suite 150-2
Phoenix, AZ 85020
NAICS code 523930
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Phoenix
In the Phoenix area, 8 businesses in the "Investment Advice" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 6) and received an average PPP loan of $29,846 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Onpoint Financial LLC
Your Source Financial Plc
Upside Insurance Services LLC
Wagon Wheel Capital LLC
Larry Mathis Financial Planning, LLC. DBA Mathis Wealth MA
Industry PPP Comparison Statistics
Nationwide, 32,223 businesses in the "Investment Advice" industry received a total of $1.45B 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, 33% lower than Onpoint Financial's reported 6 employees, and received an average PPP loan of $44,994, 80% 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!