PPP Loan Data — Torrance Care Center West, Inc, Torrance, CA
Torrance Care Center West, Inc
Entity: Subchapter S Corporation
Location: Torrance, CATweet This • Search All PPP Data
Torrance Care Center West, Inc is a subchapter s corporation located at 4333 Torrance Blvd in Torrance, California that received a Coronavirus-related PPP loan from the SBA of $1,727,282.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 239 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:City National Bank
Torrance Care Center West, Inc in Torrance, CA received a Paycheck Protection Loan of $1.73M through City National Bank, which was approved in April, 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, Torrance Care Center West, Inc's 2019 payroll expenses are estimated to be at least $8.29M.
Based on their reported 239 jobs retained, this equals an estimated average yearly compensation of $34,690 per employee1
Reported PPP Proceed Usage:
On the PPP application, Torrance Care Center West, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,727,282
Business Information - Torrance Care Center West, Inc in Torrance, CA
4333 Torrance Blvd
Torrance, CA 90503
Offices of Physicians (except Mental Health Specialists)
NAICS code 621111
Business Owner Demographics
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Torrance
In the Torrance area, 142 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 7 employees (compared to this company's 239) and received an average PPP loan of $66,523 (compared to this company's $1.73M).
Similar Nearby Businesses Who Received PPP Funding:
South Bay Independent Physicians Medical Group, Inc
Los Angeles, CA
Urgent Care Center Of South Bay Inc
Ruben Lakshmanan MD Inc
Torrance Orthopedic And Sports Medicine
Orthopaedic Institute Medical Group Incgroup Inc
Socal Pediatric Dental Group
Aiyegbusi & Braimah Medical Corporation
Industry PPP Comparison Statistics
Nationwide, 176,926 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a total of $21.07B in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 3% of the total PPP funding allocated.
PPP recipients in this industry report an average of 11 employees, 95% lower than Torrance Care Center West, Inc's reported 239 employees, and received an average PPP loan of $119,087, 93% lower than this company's loan of $1.73M.
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