PPP Loan Data — TET Malinao Valdez, Burbank, CA
TET Malinao Valdez is a sole proprietorship located at 2313 W Burbank Blvd in Burbank, California that received a Coronavirus-related PPP loan from the SBA of $24,961.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
TET Malinao Valdez in Burbank, CA received a Paycheck Protection Loan of $24,961 through Bank of America, National Association, which was approved in May, 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 April, 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, TET Malinao Valdez's 2019 payroll expenses are estimated to be at least $119,813.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $39,938 per employee1
Reported PPP Proceed Usage:
On the PPP application, TET Malinao Valdez reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $24,961
Business Information - TET Malinao Valdez in Burbank, CA
2313 W Burbank Blvd
Burbank, CA 91506
Insurance Agencies and Brokerages
NAICS code 524210
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Burbank
In the Burbank area, 49 businesses in the "Insurance Agencies and Brokerages" industry received a PPP loan. These local businesses reported an average of 3 employees (compared to this company's 3) and received an average PPP loan of $27,340 (compared to this company's $24,961).
Similar Nearby Businesses Who Received PPP Funding:
Hector Montes De Oca
Doug Auzat Insurance Agency Inc
State Farm Insurance
David Nunez Insurance Agency, Inc
Sporkin Insurance Agency
Soulakhian Insurance Agency Inc
Industry PPP Comparison Statistics
Nationwide, 149,532 businesses in the "Insurance Agencies and Brokerages" industry received a total of $5.87B in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 4 employees, 33% higher than TET Malinao Valdez's reported 3 employees, and received an average PPP loan of $39,254, 57% higher than this company's loan of $24,961.
FederalPay's PPP Information Policy
Footnotes & Information
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