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PPP Loan Data — Total Professional Network, Inc., Los Angeles, CA

SBA PPP loan data, payroll data, and salaries for Total Professional Network, Inc.
CA

Total Professional Network, Inc.

Entity: Subchapter S Corporation

Industry: Professional Employer Organizations

Location: Los Angeles, CA

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Total Professional Network, Inc. is a subchapter s corporation located at 3946 Wilshire Blvd in Los Angeles, California that received a Coronavirus-related PPP loan from the SBA of $3,250,000.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.25M

Jobs Retained:

240

Loan Approved:

2020-04-15

Lender:

NEWTEK SMALL BUSINESS FINANCE, INC.

Total Professional Network, Inc. in Los Angeles, CA received a Paycheck Protection Loan of $3.25M through NEWTEK SMALL BUSINESS FINANCE, INC., which was approved in April, 2020.

Based on standard PPP eligibility rules, Total Professional Network, Inc.'s total 2019 payroll expenses were approximately $15.6M in order to qualify for the PPP loan amount received.

Based on their reported 240 jobs retained, this equals an estimated average yearly compensation of $65,000 per employee1.

Because the loan received by Total Professional Network, Inc. is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Total Professional Network, Inc. in Los Angeles, CA

Total Professional Network, Inc.
3946 Wilshire Blvd
Los Angeles, CA 90010

Business Industry

Professional Employer Organizations (NAICS code 561330)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: CA-34

Industry PPP Comparison Statistics

Nationwide, 1,298 businesses in the "Professional Employer Organizations" industry received a total of $544,321,819.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 38 employees, 84% lower than Total Professional Network, Inc.'s reported 240 employees, and received an average PPP loan of $419,354, 87% lower than this company's loan of $3.25M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan. All information displayed on this page is publicly available information under PPP loan guidelines, and is published unmodified, as provided by the SBA.

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Footnotes & Information

1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/total-professional-network-inc-los-angeles-ca