PPP Loan Data — RPG Wealth Management, West Hollywood, CA
RPG Wealth Management is a corporation located at 9028 Norma Pl in West Hollywood, California that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:UMB Bank, National Association
RPG Wealth Management in West Hollywood, CA received a Paycheck Protection Loan of $25,000 through UMB Bank, National Association, 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 February, 2021.
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, RPG Wealth Management'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, RPG Wealth Management reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - RPG Wealth Management in West Hollywood, CA
9028 Norma Pl
West Hollywood, CA 90069
NAICS code 523920
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 6,153 businesses in the "Portfolio Management" industry received a total of $512.81M 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 6 employees, 200% higher than RPG Wealth Management's reported 2 employees, and received an average PPP loan of $83,343, 233% higher than this company's loan of $25,000.
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Footnotes & Information
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