PPP Loan Data — Tin Phat Pharmacy, Inc, Westminster, CA
Tin Phat Pharmacy, Inc is a corporation located at 9081 Bolsa Ave Ste 108 in Westminster, California that received a Coronavirus-related PPP loan from the SBA of $47,033.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
Tin Phat Pharmacy, Inc in Westminster, CA received a Paycheck Protection Loan of $47,033 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, Tin Phat Pharmacy, Inc's 2019 payroll expenses are estimated to be at least $225,758.
Based on their reported 7 jobs retained, this equals an estimated average yearly compensation of $32,251 per employee1
Reported PPP Proceed Usage:
On the PPP application, Tin Phat Pharmacy, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $47,033
Business Information - Tin Phat Pharmacy, Inc in Westminster, CA
9081 Bolsa Ave Ste 108
Westminster, CA 92683
Pharmacies and Drug Stores
NAICS code 446110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Westminster
In the Westminster area, 23 businesses in the "Pharmacies and Drug Stores" industry received a PPP loan. These local businesses reported an average of 6 employees (compared to this company's 7) and received an average PPP loan of $62,714 (compared to this company's $47,033).
Similar Nearby Businesses Who Received PPP Funding:
D.s. Pharmaceuticals Corp
Unicare Pharma Inc DBA Lanvy Pharmacy
Wwjd Pharmacy, Inc
D S Pharmaceuticals Corp
Kim Oanh Thi Tran & Thang Quang Tran DBA Kim Pharmacy
Nhung Cam Nguyen DBA Ngoc Mai Pharmacy
AAA Golden Pharmacy, Inc
Audrey Pharmacy Inc
Industry PPP Comparison Statistics
Nationwide, 18,035 businesses in the "Pharmacies and Drug Stores" industry received a total of $1.7B 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 12 employees, 71% higher than Tin Phat Pharmacy, Inc's reported 7 employees, and received an average PPP loan of $94,214, 100% higher than this company's loan of $47,033.
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Footnotes & Information
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