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PPP Loan Data — Testan Law A Professional Corporation,
Westlake Village, CA
Testan Law A Professional Corporation
Entity: Corporation
Industry: Legal Counsel and Prosecution
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 $2,000,000.00 in January, 2021.
The company has reported itself as a male owned business, and employed at least 196 people during the applicable loan loan period.
$
PPP Loan Information
Loan #1736448306
Loan Size:
Jobs Retained:
196Loan Approved:
2021-01-19Loan Status:
Paid in Full or ForgivenLender:
Commercial Bank of CaliforniaTestan Law A Professional Corporation in Westlake Village, CA received a Paycheck Protection Loan of $2M through Commercial Bank of California, which was approved in January, 2021.
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 May, 2022.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Testan Law A Professional Corporation's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 196 jobs retained, this equals an estimated average yearly compensation of $48,980 per employee1
Reported PPP Proceed Usage:
On the PPP application, Testan Law A Professional Corporation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,997
- Utilities: $1
Business Information - Testan Law A Professional Corporation in Westlake Village, CA
31330 Oak Crest Dr
Westlake Village, CA 91361
Business Industry:
Legal Counsel and Prosecution
NAICS code 922130
Business Owner Demographics
Race: Unreported
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Businesses Using Same Address:
There is one other business that received a PPP loan registered to the same address as Testan Law A Professional Corporation.
US Data Corporation
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Similar Companies near Westlake Village
In the Westlake Village area, 7 businesses in the "Legal Counsel and Prosecution" industry received a PPP loan. These local businesses reported an average of 30 employees (compared to this company's 196) and received an average PPP loan of $308,188 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Cunningham And Sherman, LLP
Thousand Oaks, CA
Gumm And Green LLP
Westlake Village, CA
Vincent Martinelli
Westlake Village, CA
Tuple Legal
Westlake Village, CA
Roshanian Payman PC
Westlake Village, CA
Gusdorff Law, PC
Westlake Village, CA
Industry PPP Comparison Statistics
Nationwide, 9,052 businesses in the "Legal Counsel and Prosecution" industry received a total of $544.18M 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 4 employees, 98% lower than Testan Law A Professional Corporation's reported 196 employees, and received an average PPP loan of $60,117, 97% lower than this company's loan of $2M.
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 male owned business, and employed at least 227 people during the applicable loan loan period.
$
PPP Loan Information
Loan #4567037002
Loan Size:
Jobs Retained:
227Loan Approved:
2020-04-03Loan Status:
Paid in Full or ForgivenLender:
Commercial Bank of CaliforniaTestan Law A Professional Corporation in Westlake Village, CA received a Paycheck Protection Loan of $4.04M through Commercial Bank of California, 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 July, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.
Read MoreUnderstanding Payroll Estimates Based On PPP Amount
Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.
Read MoreBased 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, Testan Law A Professional Corporation's 2019 payroll expenses are estimated to be at least $19.38M.
Based on their reported 227 jobs retained, this equals an estimated average yearly compensation of $85,379 per employee1
Reported PPP Proceed Usage:
On the PPP application, Testan Law A Professional Corporation reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $4,037,700
Business Information - Testan Law A Professional Corporation in Westlake Village, CA
31330 Oak Crest Dr
Westlake Village, CA 91361
Business Industry:
Offices of Lawyers
NAICS code 541110
Business Owner Demographics
Race: Unreported
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: N
Rural / Urban: Urban
Businesses Using Same Address:
There is one other business that received a PPP loan registered to the same address as Testan Law A Professional Corporation.
US Data Corporation
Directory and Mailing List Publishers
Similar Companies near Westlake Village
In the Westlake Village area, 268 businesses in the "Offices of Lawyers" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 227) and received an average PPP loan of $70,786 (compared to this company's $4.04M).
Similar Nearby Businesses Who Received PPP Funding:
Tom Moser, A Law Corporation
Westlake Village, CA
Philip D Dapeer A Law Corportation
Westlake Village, CA
Nicholas Van Parys
Westlake Village, CA
Sherman Law Firm
Westlake Village, CA
Acorn Law PC
Westlake Village, CA
Roni Keller, Attorney
Westlake Village, CA
Debolt Law A Professional Corporation
Westlake Village, CA
Nelson Law Office APC
Westlake Village, CA
Northrup Schlueter A Professional
Westlake Village, CA
Industry PPP Comparison Statistics
Nationwide, 200,499 businesses in the "Offices of Lawyers" industry received a total of $16.37B 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 $81,664, 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. FederalPay does not modify the data and makes no claims regarding its accuracy.
Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.
Footnotes & Information
1. Estimations for informational purposes only. 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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