PPP Loan Data — Tony's Heating & AC Service Inc, Southgate, CA
Tony's Heating & AC Service Inc is a corporation located at 3205 Independence Ave in Southgate, California that received a Coronavirus-related PPP loan from the SBA of $46,680.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Tony's Heating & AC Service Inc in Southgate, CA received a Paycheck Protection Loan of $46,680 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, Tony's Heating & AC Service Inc's 2019 payroll expenses are estimated to be at least $224,064.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $37,344 per employee1
Reported PPP Proceed Usage:
On the PPP application, Tony's Heating & AC Service Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,680
Business Information - Tony's Heating & AC Service Inc in Southgate, CA
3205 Independence Ave
Southgate, CA 90280
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
PPP recipients in this industry report an average of 0 employees, 100% lower than Tony's Heating & AC Service Inc's reported 6 employees, and received an average PPP loan of $0, 100% lower than this company's loan of $46,680.
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Footnotes & Information
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