PPP Loan Data — IVS Hydro Inc, Waverly, WV
IVS Hydro Inc is a corporation located at 15903 Emerson Ave in Waverly, West Virginia that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in January, 2021.
PPP Loan Information
Loan Status:Ongoing Loan
IVS Hydro Inc in Waverly, WV received a Paycheck Protection Loan of $2M through United Bank, 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, IVS Hydro Inc's 2019 payroll expenses are estimated to be at least $9.6M.
Based on their reported 258 jobs retained, this equals an estimated average yearly compensation of $37,209 per employee1
Reported PPP Proceed Usage:
On the PPP application, IVS Hydro Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $1,999,997
- Utilities: $1
Business Information - IVS Hydro Inc in Waverly, WV
15903 Emerson Ave
Waverly, WV 26184
Site Preparation Contractors
NAICS code 238910
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 30,927 businesses in the "Site Preparation Contractors" industry received a total of $4.31B 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 12 employees, 95% lower than IVS Hydro Inc's reported 258 employees, and received an average PPP loan of $139,293, 93% lower than this company's loan of $2M.
FederalPay's PPP Information Policy
Footnotes & Information
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