PPP Loan Data — Alcova Mortgage LLC, Roanoke, VA
Alcova Mortgage LLC is a limited liability company (LLC) located at 308 Market St Se in Roanoke, Virginia that received a Coronavirus-related PPP loan from the SBA of $3,545,562.00 in April, 2020.
$ PPP Loan Information
Lender:TRUIST BANK D/B/A BRANCH BANKING & TRUST CO
Alcova Mortgage LLC in Roanoke, VA received a Paycheck Protection Loan of $3.55M through TRUIST BANK D/B/A BRANCH BANKING & TRUST CO, which was approved in April, 2020.
Based on standard PPP eligibility rules, Alcova Mortgage LLC's total 2019 payroll expenses were approximately $17.02M in order to qualify for the PPP loan amount received.
Based on their reported 320 jobs retained, this equals an estimated average yearly compensation of $53,183 per employee1.
Business Information - Alcova Mortgage LLC in Roanoke, VA
308 Market St Se
Roanoke, VA 24011
Real Estate Credit (NAICS code 522292)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: VA-06
Industry PPP Comparison Statistics
Nationwide, 1,706 businesses in the "Real Estate Credit" industry received a total of $570,275,600.00 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 21 employees, 93% lower than Alcova Mortgage LLC's reported 320 employees, and received an average PPP loan of $334,276, 91% 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.
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.
Have FederalPay.org's open data tools been valuable? Consider donating!