PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — GVC LTD, Bronx, NY

ALERT: There are 2 PPP loans for a total of $6.33M in our database for businesses with the name "GVC LTD" in Bronx, NY. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for GVC LTD
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.

$ PPP Loan Information
Loan #4424248408

Loan Size:

$2M

Jobs Retained:

299

Loan Approved:

2021-02-06

Loan Status:

Ongoing Loan

Lender:

Orange Bank & Trust Company

GVC 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 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, 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
Because the loan received by GVC LTD 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 - GVC LTD in Bronx, NY

GVC LTD
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

Bronx County, NY — SBA Office 0202 — Congressional District: NY-15

Industry PPP Comparison Statistics

Nationwide, 884 businesses in the "Bus and Other Motor Vehicle Transit Systems" industry received a total of $97.29M 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 15 employees, 95% lower than GVC LTD's reported 299 employees, and received an average PPP loan of $110,054, 94% lower than this company's loan of $2M.

SBA PPP loan data, payroll data, and salaries for GVC LTD
NY

GVC LTD

Entity: Subchapter S Corporation

Industry: School and Employee Bus Transportation

Location: Bronx, NY

Search All PPP Data

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:

$4.33M

Jobs Retained:

500

Loan Approved:

2020-04-27

Loan Status:

Ongoing Loan

Lender:

Orange Bank & Trust Company

GVC 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 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, 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
Because the loan received by GVC LTD 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 - GVC LTD in Bronx, NY

GVC LTD
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

Bronx County, NY — SBA Office 0202 — Congressional District: NY-15

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).

Industry PPP Comparison Statistics

Nationwide, 2,627 businesses in the "School and Employee Bus Transportation" industry received a total of $492.37M 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 35 employees, 93% lower than GVC LTD's reported 500 employees, and received an average PPP loan of $187,425, 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.

Search FederalPay's Full PPP Loan Database

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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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/gvc-ltd-bronx-ny