PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Truex Inc, Los Angeles, CA

ALERT: There are 2 PPP loans for a total of $4.66M in our database for businesses with the name "Truex Inc" in Los Angeles, CA. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Truex Inc
CA

Truex Inc

Entity: Corporation

Industry: Advertising Agencies

Location: Los Angeles, CA

Search All PPP Data

Truex Inc is a corporation located at 11925 Wilshire Blvd # 200 in Los Angeles, California that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in March, 2021.

The company has reported itself as a male owned business, and employed at least 168 people during the applicable loan loan period.

$ PPP Loan Information
Loan #4223498602

Loan Size:

$2M

Jobs Retained:

168

Loan Approved:

2021-03-18

Loan Status:

Ongoing Loan

Lender:

East West Bank

Truex Inc in Los Angeles, CA received a Paycheck Protection Loan of $2M through East West Bank, which was approved in March, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Truex Inc's 2019 payroll expenses are estimated to be at least $9.6M.

Based on their reported 168 jobs retained, this equals an estimated average yearly compensation of $57,143 per employee1

Reported PPP Proceed Usage:

On the PPP application, Truex Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $1,999,999
Because the loan received by Truex 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 - Truex Inc in Los Angeles, CA

Truex Inc
11925 Wilshire Blvd # 200
Los Angeles, CA 90025

Business Industry:
Advertising Agencies
NAICS code 541810

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Los Angeles County, CA — SBA Office 0914 — Congressional District: CA-33

Similar Companies near Los Angeles

In the Los Angeles area, 54 businesses in the "Advertising Agencies" industry received a PPP loan. These local businesses reported an average of 15 employees (compared to this company's 168) and received an average PPP loan of $210,864 (compared to this company's $2M).

Industry PPP Comparison Statistics

Nationwide, 21,166 businesses in the "Advertising Agencies" industry received a total of $2.33B 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 8 employees, 95% lower than Truex Inc's reported 168 employees, and received an average PPP loan of $109,922, 95% lower than this company's loan of $2M.

SBA PPP loan data, payroll data, and salaries for Truex Inc
CA

Truex Inc

Entity: Corporation

Industry: Media Representatives

Location: Los Angeles, CA

Search All PPP Data

Truex Inc is a corporation located at 11925 Wilshire Blvd Ste 200 in Los Angeles, California that received a Coronavirus-related PPP loan from the SBA of $2,664,402.00 in January, 2021.

The company has reported itself as a male owned business, and employed at least 168 people during the applicable loan loan period.

$ PPP Loan Information
Loan #9452728301

Loan Size:

$2.66M

Jobs Retained:

168

Loan Approved:

2021-01-30

Loan Status:

Ongoing Loan

Lender:

East West Bank

Truex Inc in Los Angeles, CA received a Paycheck Protection Loan of $2.66M through East West Bank, which was approved in January, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

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, Truex Inc's 2019 payroll expenses are estimated to be at least $12.79M.

Based on their reported 168 jobs retained, this equals an estimated average yearly compensation of $76,126 per employee1

Reported PPP Proceed Usage:

On the PPP application, Truex Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $2,664,401
Because the loan received by Truex 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 - Truex Inc in Los Angeles, CA

Truex Inc
11925 Wilshire Blvd Ste 200
Los Angeles, CA 90025

Business Industry:
Media Representatives
NAICS code 541840

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Male Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Los Angeles County, CA — SBA Office 0914 — Congressional District: CA-33

Similar Companies near Los Angeles

In the Los Angeles area, 5 businesses in the "Media Representatives" industry received a PPP loan. These local businesses reported an average of 36 employees (compared to this company's 168) and received an average PPP loan of $577,283 (compared to this company's $2.66M).

Industry PPP Comparison Statistics

Nationwide, 3,159 businesses in the "Media Representatives" industry received a total of $227.29M 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 6 employees, 96% lower than Truex Inc's reported 168 employees, and received an average PPP loan of $71,949, 97% lower than this company's loan of $2.66M.

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, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. 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/truex-inc-los-angeles-ca