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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 #5605027104

Loan Size:

$3.05M

Jobs Retained:

264

Loan Approved:

2020-04-13

Loan Status:

Ongoing Loan

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.

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, Infrastructure Technology Services Inc's 2019 payroll expenses are estimated to be at least $14.65M.

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

Reported PPP Proceed Usage:

On the PPP application, Infrastructure Technology Services Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $3,051,500
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: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Rural

Franklin County, NC — SBA Office 0460 — Congressional District: NC-04

Businesses Using Same Address:

There is one other business that received a PPP loan registered to the same address as Infrastructure Technology Services Inc.

UDI Of NC Inc
Specialized Freight (except Used Goods) Trucking, Local

$186,900 PPP Loan

Similar Companies near Youngsville

In the Youngsville area, 7 businesses in the "Water and Sewer Line and Related Structures Construction" industry received a PPP loan. These local businesses reported an average of 57 employees (compared to this company's 264) and received an average PPP loan of $656,162 (compared to this company's $3.05M).

Industry PPP Comparison Statistics

Nationwide, 8,801 businesses in the "Water and Sewer Line and Related Structures Construction" industry received a total of $1.93B 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 17 employees, 94% lower than Infrastructure Technology Services Inc's reported 264 employees, and received an average PPP loan of $219,100, 93% 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, 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.

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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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Source: www.federalpay.org/paycheck-protection-program/infrastructure-technology-services-inc-youngsville-nc