PPP Loan Data — Pharmaco, Inc, Torrance, CA
Pharmaco, Inc is a subchapter s corporation located at 19500 Normandie Ave in Torrance, California that received a Coronavirus-related PPP loan from the SBA of $1,555,100.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:First Foundation Bank
Pharmaco, Inc in Torrance, CA received a Paycheck Protection Loan of $1.56M through First Foundation Bank, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in December, 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, Pharmaco, Inc's 2019 payroll expenses are estimated to be at least $7.46M.
Based on their reported 122 jobs retained, this equals an estimated average yearly compensation of $61,184 per employee1
Reported PPP Proceed Usage:
On the PPP application, Pharmaco, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,555,100
Business Information - Pharmaco, Inc in Torrance, CA
19500 Normandie Ave
Torrance, CA 90502
Home Health Care Services
NAICS code 621610
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Torrance
In the Torrance area, 68 businesses in the "Home Health Care Services" industry received a PPP loan. These local businesses reported an average of 28 employees (compared to this company's 122) and received an average PPP loan of $132,365 (compared to this company's $1.56M).
Similar Nearby Businesses Who Received PPP Funding:
Prestige Caregiving Agency
The Center Of Home Health, Inc
Accxell Home Health Agency, Inc
Global Hospice Care, Inc
Health By Ratio
Lee Adult Homes
Industry PPP Comparison Statistics
Nationwide, 91,996 businesses in the "Home Health Care Services" industry received a total of $7.67B 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 15 employees, 88% lower than Pharmaco, Inc's reported 122 employees, and received an average PPP loan of $83,373, 95% lower than this company's loan of $1.56M.
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Footnotes & Information
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