PPP Loan Data — Professional Solutions Services Inc, Corona, CA
Professional Solutions Services Inc is a corporation located at 1350 Sonora Dr in Corona, California that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
Professional Solutions Services Inc in Corona, CA received a Paycheck Protection Loan of $25,000 through Bank of America, National Association, which was approved in May, 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, Professional Solutions Services Inc's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Professional Solutions Services Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Professional Solutions Services Inc in Corona, CA
1350 Sonora Dr
Corona, CA 92882
All Other Miscellaneous Manufacturing
NAICS code 339999
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Corona
In the Corona area, 11 businesses in the "All Other Miscellaneous Manufacturing" 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 $35,212 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Ruben Cortez DBA Circa-81
Luxe Homemade Company
Loyalty Products Inc
Esther Zuniga Tito
Industry PPP Comparison Statistics
Nationwide, 17,359 businesses in the "All Other Miscellaneous Manufacturing" industry received a total of $2.06B 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 12 employees, 500% higher than Professional Solutions Services Inc's reported 2 employees, and received an average PPP loan of $118,586, 374% higher than this company's loan of $25,000.
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