PPP Loan Data — Village Equipment Rentals, Inc, Lake Elsinore, CA
Village Equipment Rentals, Inc is a subchapter s corporation located at 18374 Grand Ave in Lake Elsinore, California that received a Coronavirus-related PPP loan from the SBA of $46,625.00 in May, 2020.
The company has reported itself as a male owned business, and employed at least three people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:JPMorgan Chase Bank, National Association
Village Equipment Rentals, Inc in Lake Elsinore, CA received a Paycheck Protection Loan of $46,625 through JPMorgan Chase Bank, National Association, which was approved in May, 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, Village Equipment Rentals, Inc's 2019 payroll expenses are estimated to be at least $223,800.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $74,600 per employee1
Reported PPP Proceed Usage:
On the PPP application, Village Equipment Rentals, Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $30,625
- Utilities: $2,000
- Rent: $8,750
- Health Care: $5,250
Business Information - Village Equipment Rentals, Inc in Lake Elsinore, CA
Business Owner Demographics
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
PPP recipients in this industry report an average of 0 employees, 100% lower than Village Equipment Rentals, Inc's reported 3 employees, and received an average PPP loan of $0, 100% lower than this company's loan of $46,625.
FederalPay's PPP Information Policy
Footnotes & Information
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