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PPP Loan Data — World Payment Systems, West Hollywood, CA

SBA PPP loan data, payroll data, and salaries for World Payment Systems
CA

World Payment Systems

Entity: Independent Contractor

Industry: Financial Transactions Processing, Reserve, and Clearinghouse Activities

Location: West Hollywood, CA

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World Payment Systems is an independent contractor located in West Hollywood, California that received a Coronavirus-related PPP loan from the SBA of $20,833.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$20,833

Jobs Retained:

1

Loan Approved:

2020-04-30

Lender:

CUSTOMERS BANK

World Payment Systems received a Paycheck Protection Loan of $20,833 through CUSTOMERS BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, World Payment Systems' total 2019 payroll expenses were approximately $99,998 (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.

Based on their reported 1 jobs retained, this equals an estimated average yearly compensation of $99,998 (not accounting for salary amounts > $100k) per employee1.

Business Information - World Payment Systems in West Hollywood, CA

World Payment Systems
[FULL ADDRESS REDACTED]
West Hollywood, CA

Business Industry

Financial Transactions Processing, Reserve, and Clearinghouse Activities (NAICS code 522320)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: CA-28

Similar Companies near West Hollywood

In the West Hollywood area, 6 businesses in the "Financial Transactions Processing, Reserve, and Clearinghouse Activities" industry received a PPP loan. These local businesses reported an average of 48 employees (compared to this company's 1) and received an average PPP loan of $657,724 (compared to this company's $20,833).

Industry PPP Comparison Statistics

Nationwide, 2,295 businesses in the "Financial Transactions Processing, Reserve, and Clearinghouse Activities" industry received a total of $244,861,474.00 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 8 employees, 700% higher than World Payment Systems' reported 1 employees, and received an average PPP loan of $106,693, 412% higher than this company's loan of $20,833.

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.

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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/world-payment-systems-west-hollywood-ca