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PPP Loan Data — Testan Law A Professional Corporation, Westlake Village, CA

SBA PPP loan data, payroll data, and salaries for Testan Law A Professional Corporation
CA

Testan Law A Professional Corporation

Entity: Corporation

Industry: Offices of Lawyers

Location: Westlake Village, CA

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Testan Law A Professional Corporation is a corporation located at 31330 Oak Crest Dr in Westlake Village, California that received a Coronavirus-related PPP loan from the SBA of $4,037,700.00 in April, 2020.

The company has reported itself as a White male owned business, and employed at least 227 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$4.04M

Jobs Retained:

227

Loan Approved:

2020-04-03

Lender:

COMMERCIAL BANK OF CALIFORNIA

Testan Law A Professional Corporation received a Paycheck Protection Loan of $4.04M through COMMERCIAL BANK OF CALIFORNIA, which was approved in April, 2020.

Based on standard PPP eligibility rules, Testan Law A Professional Corporation's total 2019 payroll expenses were approximately $19.38M in order to qualify for the PPP loan amount received.

Based on their reported 227 jobs retained, this equals an estimated average yearly compensation of $85,379 per employee1.

Because the loan received by Testan Law A Professional Corporation is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Testan Law A Professional Corporation in Westlake Village, CA

Testan Law A Professional Corporation
31330 Oak Crest Dr
Westlake Village, CA 91361

Business Industry

Offices of Lawyers (NAICS code 541110)

Business Owner Demographics

Race / Ethnicity: WHITE

Gender: MALE OWNED

Veteran Status: NON-VETERAN

Congressional District: CA-26

Similar Companies near Westlake Village

In the Westlake Village area, 165 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 227) and received an average PPP loan of $89,011 (compared to this company's $4.04M).

Industry PPP Comparison Statistics

Nationwide, 126,779 businesses in the "Offices of Lawyers" industry received a total of $11,918,471,350.00 in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 2% of the total PPP funding allocated.

PPP recipients in this industry report an average of 6 employees, 97% lower than Testan Law A Professional Corporation's reported 227 employees, and received an average PPP loan of $94,010, 98% lower than this company's loan of $4.04M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/testan-law-a-professional-corporation-westlake-village-ca