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PPP Loan Data — United States Veterans Initiative, Los Angeles, CA

SBA PPP loan data, payroll data, and salaries for United States Veterans Initiative
CA Nonprofit Organization

United States Veterans Initiative

Entity: Non-profit Organization

Industry: All Other Professional, Scientific, and Technical Services

Location: Los Angeles, CA

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United States Veterans Initiative is a non-profit organization located at 800 W 6th St in Los Angeles, California that received a Coronavirus-related PPP loan from the SBA of $3,553,176.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.55M

Jobs Retained:

471

Loan Approved:

2020-04-12

Lender:

BBVA USA

United States Veterans Initiative in Los Angeles, CA received a Paycheck Protection Loan of $3.55M through BBVA USA, which was approved in April, 2020.

Based on standard PPP eligibility rules, United States Veterans Initiative's total 2019 payroll expenses were approximately $17.06M in order to qualify for the PPP loan amount received.

Based on their reported 471 jobs retained, this equals an estimated average yearly compensation of $36,211 per employee1.

Because the loan received by United States Veterans Initiative 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 - United States Veterans Initiative in Los Angeles, CA

United States Veterans Initiative
800 W 6th St
Los Angeles, CA 90017

Business Industry

All Other Professional, Scientific, and Technical Services (NAICS code 541990)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: CA-34

Similar Companies near Los Angeles

In the Los Angeles area, 24 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a PPP loan. These local businesses reported an average of 28 employees (compared to this company's 471) and received an average PPP loan of $390,415 (compared to this company's $3.55M).

Industry PPP Comparison Statistics

Nationwide, 63,722 businesses in the "All Other Professional, Scientific, and Technical Services" industry received a total of $4,746,522,934.00 in PPP loans. These businesses account for 1% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 6 employees, 99% lower than United States Veterans Initiative's reported 471 employees, and received an average PPP loan of $74,488, 98% lower than this company's loan of $3.55M.

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/united-states-veterans-initiative-los-angeles-ca