PPP Loan Data — Tower Communities LLC, Pasadena, CA
Tower Communities LLC is a limited liability company (LLC) located at 80 S Lake Ave Ste 719 in Pasadena, California that received a Coronavirus-related PPP loan from the SBA of $1,506,777.00 in May, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of America, National Association
Tower Communities LLC in Pasadena, CA received a Paycheck Protection Loan of $1.51M 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 March, 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, Tower Communities LLC's 2019 payroll expenses are estimated to be at least $7.23M.
Based on their reported 236 jobs retained, this equals an estimated average yearly compensation of $30,646 per employee1
Reported PPP Proceed Usage:
On the PPP application, Tower Communities LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,506,777
Business Information - Tower Communities LLC in Pasadena, CA
80 S Lake Ave Ste 719
Pasadena, CA 91101
Offices of Real Estate Agents and Brokers
NAICS code 531210
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Pasadena
In the Pasadena area, 73 businesses in the "Offices of Real Estate Agents and Brokers" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 236) and received an average PPP loan of $49,341 (compared to this company's $1.51M).
Similar Nearby Businesses Who Received PPP Funding:
Shant Sherbetdjian Inc
The Elifant Group Inc
JT Real Estate Services
Armen V. Sarkissian
Brian Parsons Real Estate, Inc
Atlas Commercial Real Estate Corporation
Industry PPP Comparison Statistics
Nationwide, 255,794 businesses in the "Offices of Real Estate Agents and Brokers" industry received a total of $5.75B in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 1% of the total PPP funding allocated.
PPP recipients in this industry report an average of 2 employees, 99% lower than Tower Communities LLC's reported 236 employees, and received an average PPP loan of $22,469, 99% lower than this company's loan of $1.51M.
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Footnotes & Information
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