PPP Loan Data — TLC Patio Inc, Menifee, CA
TLC Patio Inc is a corporation located at 30536 Covecrest Cir in Menifee, California that received a Coronavirus-related PPP loan from the SBA of $25,007.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Wells Fargo Bank, National Association
TLC Patio Inc in Menifee, CA received a Paycheck Protection Loan of $25,007 through Wells Fargo Bank, National Association, 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 June, 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, TLC Patio Inc's 2019 payroll expenses are estimated to be at least $120,034.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,017 per employee1
Reported PPP Proceed Usage:
On the PPP application, TLC Patio Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,007
Business Information - TLC Patio Inc in Menifee, CA
30536 Covecrest Cir
Menifee, CA 92584
Furniture Merchant Wholesalers
NAICS code 423210
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Menifee
In the Menifee area, 2 businesses in the "Furniture Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 2) and received an average PPP loan of $18,884 (compared to this company's $25,007).
Similar Nearby Businesses Who Received PPP Funding:
KA Tax And Accounting Inc
Industry PPP Comparison Statistics
Nationwide, 5,311 businesses in the "Furniture Merchant Wholesalers" industry received a total of $681.81M 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 11 employees, 450% higher than TLC Patio Inc's reported 2 employees, and received an average PPP loan of $128,377, 413% higher than this company's loan of $25,007.
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Footnotes & Information
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