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PPP Loan Data — GVC LTD,
Bronx, NY
GVC LTD
Entity: Subchapter S Corporation
Industry: Bus and Other Motor Vehicle Transit Systems
Location: Bronx, NY
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GVC LTD is a subchapter s corporation located at 450 Zerega Ave in Bronx, New York that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in February, 2021.
The company has reported itself as a White male owned business, and employed at least 299 people during the applicable loan loan period.
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PPP Loan Information
Loan #4424248408
Loan Size:
Jobs Retained:
299Loan Approved:
2021-02-06Loan Status:
Ongoing LoanLender:
Orange Bank & Trust CompanyGVC LTD in Bronx, NY received a Paycheck Protection Loan of $2M through Orange Bank & Trust Company, which was approved in February, 2021.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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 MoreUnderstanding 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 MoreBased 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, GVC LTD's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 299 jobs retained, this equals an estimated average yearly compensation of $32,107 per employee1
Reported PPP Proceed Usage:
On the PPP application, GVC LTD reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,995
- Utilities: $1
Business Information - GVC LTD in Bronx, NY
450 Zerega Ave
Bronx, NY 10473
Business Industry:
Bus and Other Motor Vehicle Transit Systems
NAICS code 485113
Business Owner Demographics
Race: White
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 1,311 businesses in the "Bus and Other Motor Vehicle Transit Systems" industry received a total of $105.64M 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 11 employees, 96% lower than GVC LTD's reported 299 employees, and received an average PPP loan of $80,581, 96% lower than this company's loan of $2M.
GVC LTD
Entity: Subchapter S Corporation
Industry: School and Employee Bus Transportation
Location: Bronx, NY
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GVC LTD is a subchapter s corporation located at 450 Zerega Avenue in Bronx, New York that received a Coronavirus-related PPP loan from the SBA of $4,330,790.00 in April, 2020.
The company has reported itself as a White male owned business, and employed at least 500 people during the applicable loan loan period.
$
PPP Loan Information
Loan #5138797210
Loan Size:
Jobs Retained:
500Loan Approved:
2020-04-27Loan Status:
Ongoing LoanLender:
Orange Bank & Trust CompanyGVC LTD in Bronx, NY received a Paycheck Protection Loan of $4.33M through Orange Bank & Trust Company, which was approved in April, 2020.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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 MoreUnderstanding 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 MoreBased 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, GVC LTD's 2019 payroll expenses are estimated to be at least $20.79M.
Based on their reported 500 jobs retained, this equals an estimated average yearly compensation of $41,576 per employee1
Reported PPP Proceed Usage:
On the PPP application, GVC LTD reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $4,330,790
Business Information - GVC LTD in Bronx, NY
450 Zerega Avenue
Bronx, NY 10473
Business Industry:
School and Employee Bus Transportation
NAICS code 485410
Business Owner Demographics
Race: White
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: Y
HUBZone: N
Rural / Urban: Urban
Similar Companies near Bronx
In the Bronx area, 3 businesses in the "School and Employee Bus Transportation" industry received a PPP loan. These local businesses reported an average of 306 employees (compared to this company's 500) and received an average PPP loan of $2,169,275 (compared to this company's $4.33M).
Similar Nearby Businesses Who Received PPP Funding:
Another Ride PR Inc
Bronx, NY
Phillip Bus Service,Inc
Bronx, NY
Industry PPP Comparison Statistics
Nationwide, 3,329 businesses in the "School and Employee Bus Transportation" industry received a total of $525M 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 29 employees, 94% lower than GVC LTD's reported 500 employees, and received an average PPP loan of $157,706, 96% lower than this company's loan of $4.33M.
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.
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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