PPP Loan Data — Full Compass Systems LTD, Verona, WI
Full Compass Systems LTD is a subchapter s corporation located at 9770 Silicon Prairie Pkwy in Verona, Wisconsin that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in January, 2021.
The company has reported itself as a male owned business, and employed at least 172 people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:State Bank of Cross Plains
Full Compass Systems LTD in Verona, WI received a Paycheck Protection Loan of $2M through State Bank of Cross Plains, which was approved in January, 2021.
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, Full Compass Systems LTD's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 172 jobs retained, this equals an estimated average yearly compensation of $55,814 per employee1
Reported PPP Proceed Usage:
On the PPP application, Full Compass Systems LTD reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,998
- Utilities: $1
Business Information - Full Compass Systems LTD in Verona, WI
9770 Silicon Prairie Pkwy
Verona, WI 53593
NAICS code 443142
Business Owner Demographics
Gender: Male Owned
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Verona
In the Verona area, 2 businesses in the "Electronics Stores" industry received a PPP loan. These local businesses reported an average of 173 employees (compared to this company's 172) and received an average PPP loan of $2,432,914 (compared to this company's $2M).
Similar Nearby Businesses Who Received PPP Funding:
Full Compass Systems LTD
Industry PPP Comparison Statistics
Nationwide, 13,096 businesses in the "Electronics Stores" industry received a total of $848.58M 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 8 employees, 95% lower than Full Compass Systems LTD's reported 172 employees, and received an average PPP loan of $64,797, 97% lower than this company's loan of $2M.
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Footnotes & Information
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