PPP Loan Data — Markvision Team, Fremont, CA
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Markvision Team is a corporation located at 3231 Osgood Common in Fremont, California that received a Coronavirus-related PPP loan from the SBA of $63,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Bank of the West
Markvision Team in Fremont, CA received a Paycheck Protection Loan of $63,000 through Bank of the West, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in February, 2022.
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, Markvision Team's 2019 payroll expenses are estimated to be at least $302,400.
Based on their reported 11 jobs retained, this equals an estimated average yearly compensation of $27,491 per employee1
Reported PPP Proceed Usage:
On the PPP application, Markvision Team reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $63,000
Business Information - Markvision Team in Fremont, CA
3231 Osgood Common
Fremont, CA 94539
Computer and Computer Peripheral Equipment and Software Merchant Wholesalers
NAICS code 423430
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Fremont
In the Fremont area, 42 businesses in the "Computer and Computer Peripheral Equipment and Software Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 32 employees (compared to this company's 11) and received an average PPP loan of $478,173 (compared to this company's $63,000).
Similar Nearby Businesses Who Received PPP Funding:
Durabook Americas Inc
Aver Information Inc
I-Tech Company LTD. Liability Co
Tyan Computer Corporation
Mvation Worldwide Inc
Inet Expert Inc
Virtual Micro Inc
Quanta Computer USA Inc
Industry PPP Comparison Statistics
Nationwide, 4,419 businesses in the "Computer and Computer Peripheral Equipment and Software Merchant Wholesalers" industry received a total of $692.16M 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, 9% higher than Markvision Team's reported 11 employees, and received an average PPP loan of $156,632, 149% higher than this company's loan of $63,000.
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