PPP Loan Data — Comtech LLC, Reston, VA
Comtech LLC is a limited liability company (LLC) located at 1801 Robert Fulton Drive Suite 410 in Reston, Virginia that received a Coronavirus-related PPP loan from the SBA of $2,086,888.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Wells Fargo Bank, National Association
Comtech LLC in Reston, VA received a Paycheck Protection Loan of $2.09M through Wells Fargo Bank, National Association, which was approved in May, 2020.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 100. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
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, Comtech LLC's 2019 payroll expenses are estimated to be at least $10.02M (not accounting for salary amounts > $100k).
Because the 64 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Comtech LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,086,888
Business Information - Comtech LLC in Reston, VA
1801 Robert Fulton Drive Suite 410
Reston, VA 20191
Computer Systems Design Services
NAICS code 541512
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Reston
In the Reston area, 72 businesses in the "Computer Systems Design Services" industry received a PPP loan. These local businesses reported an average of 38 employees (compared to this company's 64) and received an average PPP loan of $738,855 (compared to this company's $2.09M).
Similar Nearby Businesses Who Received PPP Funding:
North Point Technology LLC
The Xela Group LLC
Karthik Consulting LLC
Network Depot LLC
Industry PPP Comparison Statistics
Nationwide, 31,382 businesses in the "Computer Systems Design Services" industry received a total of $4.35B 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, 84% lower than Comtech LLC's reported 64 employees, and received an average PPP loan of $138,748, 93% lower than this company's loan of $2.09M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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