PPP Loan Data — Teserra, Coachella, CA
Teserra is a corporation located at 86100 Avenue 54 in Coachella, California that received a Coronavirus-related PPP loan from the SBA of $1,519,986.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 184 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Loan Source Incorporated
Teserra in Coachella, CA received a Paycheck Protection Loan of $1.52M through Loan Source Incorporated, which was approved in April, 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, Teserra's 2019 payroll expenses are estimated to be at least $7.3M.
Based on their reported 184 jobs retained, this equals an estimated average yearly compensation of $39,652 per employee1
Reported PPP Proceed Usage:
On the PPP application, Teserra reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,519,986
Business Information - Teserra in Coachella, CA
86100 Avenue 54
Coachella, CA 92236
All Other Specialty Trade Contractors
NAICS code 238990
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Coachella
In the Coachella area, 4 businesses in the "All Other Specialty Trade Contractors" industry received a PPP loan. These local businesses reported an average of 67 employees (compared to this company's 184) and received an average PPP loan of $484,755 (compared to this company's $1.52M).
Similar Nearby Businesses Who Received PPP Funding:
Valley Gunite, Inc
JC Well & Pump Systems Inc
Industry PPP Comparison Statistics
Nationwide, 93,400 businesses in the "All Other Specialty Trade Contractors" industry received a total of $8.04B 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 8 employees, 96% lower than Teserra's reported 184 employees, and received an average PPP loan of $86,076, 94% lower than this company's loan of $1.52M.
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Footnotes & Information
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