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PPP Loan Data — Infrastructure Technology Services Inc, Youngsville, NC

SBA PPP loan data, payroll data, and salaries for Infrastructure Technology Services Inc
NC

Infrastructure Technology Services Inc

Entity: Subchapter S Corporation

Industry: Water and Sewer Line and Related Structures Construction

Location: Youngsville, NC

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Infrastructure Technology Services Inc is a subchapter s corporation located at 360 Wolfpack Ln in Youngsville, North Carolina that received a Coronavirus-related PPP loan from the SBA of $3,051,500.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.05M

Jobs Retained:

264

Loan Approved:

2020-04-13

Lender:

PNC BANK, NATIONAL ASSOCIATION

Infrastructure Technology Services Inc in Youngsville, NC received a Paycheck Protection Loan of $3.05M through PNC BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Infrastructure Technology Services Inc's total 2019 payroll expenses were approximately $14.65M in order to qualify for the PPP loan amount received.

Based on their reported 264 jobs retained, this equals an estimated average yearly compensation of $55,482 per employee1.

Because the loan received by Infrastructure Technology Services Inc 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 - Infrastructure Technology Services Inc in Youngsville, NC

Infrastructure Technology Services Inc
360 Wolfpack Ln
Youngsville, NC 27596

Business Industry

Water and Sewer Line and Related Structures Construction (NAICS code 237110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NC-02

Similar Companies near Youngsville

In the Youngsville area, 3 businesses in the "Water and Sewer Line and Related Structures Construction" industry received a PPP loan. These local businesses reported an average of 103 employees (compared to this company's 264) and received an average PPP loan of $1,194,500 (compared to this company's $3.05M).

Industry PPP Comparison Statistics

Nationwide, 5,092 businesses in the "Water and Sewer Line and Related Structures Construction" industry received a total of $1,334,037,195.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 17 employees, 94% lower than Infrastructure Technology Services Inc's reported 264 employees, and received an average PPP loan of $261,987, 91% lower than this company's loan of $3.05M.

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, and is published unmodified, as provided by the SBA.

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Footnotes & Information

1. 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/infrastructure-technology-services-inc-youngsville-nc