PPP Loan Data — Synapse Productions, View Park, CA
Synapse Productions is a corporation located at 3631 Northland Dr in View Park, California that received a Coronavirus-related PPP loan from the SBA of $24,861.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least one person during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:City National Bank
Synapse Productions in View Park, CA received a Paycheck Protection Loan of $24,861 through City National Bank, which was approved in April, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 1. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, Synapse Productions' 2019 payroll expenses are estimated to be at least $119,333 (not accounting for salary amounts > $100k).
Because the 1 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Synapse Productions reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $22,861
- Utilities: $1,000
- Rent: $1,000
Business Information - Synapse Productions in View Park, CA
3631 Northland Dr
View Park, CA 90008
Motion Picture and Video Distribution
NAICS code 512120
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near View Park
In the View Park area, 2 businesses in the "Motion Picture and Video Distribution" industry received a PPP loan. These local businesses reported an average of 8 employees (compared to this company's 1) and received an average PPP loan of $29,931 (compared to this company's $24,861).
Similar Nearby Businesses Who Received PPP Funding:
Rugged TV Inc
Los Angeles, CA
Industry PPP Comparison Statistics
Nationwide, 2,334 businesses in the "Motion Picture and Video Distribution" industry received a total of $99.08M 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, 500% higher than Synapse Productions' reported 1 employees, and received an average PPP loan of $42,450, 71% higher than this company's loan of $24,861.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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