PPP Loan Data — The Source AV Design Group, Torrance, CA
The Source AV Design Group is a partnership located at 3035 Kashiwa St Ste. 101 in Torrance, California that received a Coronavirus-related PPP loan from the SBA of $25,410.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
The Source AV Design Group in Torrance, CA received a Paycheck Protection Loan of $25,410 through Customers Bank, which was approved in May, 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, The Source AV Design Group's 2019 payroll expenses are estimated to be at least $121,968.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,394 per employee1
Reported PPP Proceed Usage:
On the PPP application, The Source AV Design Group reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,410
Business Information - The Source AV Design Group in Torrance, CA
3035 Kashiwa St Ste. 101
Torrance, CA 90505
NAICS code 443142
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Torrance
In the Torrance area, 5 businesses in the "Electronics Stores" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 5) and received an average PPP loan of $9,869 (compared to this company's $25,410).
Similar Nearby Businesses Who Received PPP Funding:
Aplustech Cctr LLC
Best Solution Techs
Industry PPP Comparison Statistics
Nationwide, 13,096 businesses in the "Electronics Stores" industry received a total of $848.58M 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, 60% higher than The Source AV Design Group's reported 5 employees, and received an average PPP loan of $64,797, 155% higher than this company's loan of $25,410.
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Footnotes & Information
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