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PPP Loan Data — Overland Computer Service Co, Culver City, CA

SBA PPP loan data, payroll data, and salaries for Overland Computer Service Co
CA

Overland Computer Service Co

Entity: Partnership

Industry: Computer and Office Machine Repair and Maintenance

Location: Culver City, CA

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Overland Computer Service Co is a partnership located at 5150 Overland Ave in Culver City, California that received a Coronavirus-related PPP loan from the SBA of $4,467,815.00 in April, 2020.

$ PPP Loan Information
Loan #7811917209

Loan Size:

$4.47M

Jobs Retained:

298

Loan Approved:

2020-04-28

Loan Status:

Ongoing Loan

Lender:

MUFG Union Bank, National Association

Overland Computer Service Co in Culver City, CA received a Paycheck Protection Loan of $4.47M through MUFG Union Bank, National Association, which was approved in April, 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, Overland Computer Service Co's 2019 payroll expenses are estimated to be at least $21.45M.

Based on their reported 298 jobs retained, this equals an estimated average yearly compensation of $71,965 per employee1

Reported PPP Proceed Usage:

On the PPP application, Overland Computer Service Co reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $4,467,815
Because the loan received by Overland Computer Service Co is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Overland Computer Service Co in Culver City, CA

Overland Computer Service Co
5150 Overland Ave
Culver City, CA 90230

Business Industry:
Computer and Office Machine Repair and Maintenance
NAICS code 811212

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Los Angeles County, CA — SBA Office 0914 — Congressional District: CA-37

Businesses Using Same Address:

There is one other business that received a PPP loan registered to the same address as Overland Computer Service Co.

GK Management Co, Inc
Residential Property Managers

$2.48M PPP Loan

Similar Companies near Culver City

In the Culver City area, 3 businesses in the "Computer and Office Machine Repair and Maintenance" industry received a PPP loan. These local businesses reported an average of 100 employees (compared to this company's 298) and received an average PPP loan of $1,500,625 (compared to this company's $4.47M).

Industry PPP Comparison Statistics

Nationwide, 7,594 businesses in the "Computer and Office Machine Repair and Maintenance" industry received a total of $289.36M 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, 99% lower than Overland Computer Service Co's reported 298 employees, and received an average PPP loan of $38,103, 99% lower than this company's loan of $4.47M.

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.

Search FederalPay's Full PPP Loan Database

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/overland-computer-service-co-culver-city-ca