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PPP Loan Data — Computer World Services, Corp, Falls Church, VA

SBA PPP loan data, payroll data, and salaries for Computer World Services, Corp
VA

Computer World Services, Corp

Entity: Subchapter S Corporation

Industry: Computer Systems Design Services

Location: Falls Church, VA

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Computer World Services, Corp is a subchapter s corporation located at 6402 Arlington Blvd Suite 650 in Falls Church, Virginia that received a Coronavirus-related PPP loan from the SBA of $6,130,740.00 in April, 2020.

The company has reported itself as an Asian male owned business, and employed at least 426 people during the applicable loan loan period.

$ PPP Loan Information
Loan #6364007101

Loan Size:

$6.13M

Jobs Retained:

426

Loan Approved:

2020-04-14

Loan Status:

Paid in Full or Forgiven

Lender:

Sandy Spring Bank

Computer World Services, Corp in Falls Church, VA received a Paycheck Protection Loan of $6.13M through Sandy Spring Bank, which was approved in April, 2020.

This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in October, 2021.

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, Computer World Services, Corp's 2019 payroll expenses are estimated to be at least $29.43M.

Based on their reported 426 jobs retained, this equals an estimated average yearly compensation of $69,079 per employee1

Reported PPP Proceed Usage:

On the PPP application, Computer World Services, Corp reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $6,130,740
Because the loan received by Computer World Services, Corp 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 - Computer World Services, Corp in Falls Church, VA

Computer World Services, Corp
6402 Arlington Blvd Suite 650
Falls Church, VA 22042

Business Industry:
Computer Systems Design Services
NAICS code 541512

Business Owner Demographics

Race: Asian

Ethnicity: Unreported

Gender: Male Owned

Veteran Status: Unreported

Business Demographics

Business Age: Change of Ownership

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Fairfax County, VA — SBA Office 0353 — Congressional District: VA-08

Similar Companies near Falls Church

In the Falls Church area, 24 businesses in the "Computer Systems Design Services" industry received a PPP loan. These local businesses reported an average of 48 employees (compared to this company's 426) and received an average PPP loan of $775,658 (compared to this company's $6.13M).

Industry PPP Comparison Statistics

Nationwide, 30,865 businesses in the "Computer Systems Design Services" industry received a total of $4.34B 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 10 employees, 98% lower than Computer World Services, Corp's reported 426 employees, and received an average PPP loan of $140,681, 98% lower than this company's loan of $6.13M.

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. 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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Source: www.federalpay.org/paycheck-protection-program/computer-world-services-corp-falls-church-va