PPP Loan Data — Michael Vlachos, Quincy, MA
Michael Vlachos is a sole proprietorship located in Quincy, Massachusetts that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Santander Bank, National Association
Michael Vlachos in Quincy, MA received a Paycheck Protection Loan of $25,000 through Santander Bank, National Association, 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 May, 2021.The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 1 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.
The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 1. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.
Reported PPP Proceed Usage:
On the PPP application, Michael Vlachos reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Michael Vlachos in Quincy, MA
* Full address is redacted to protect the privacy of individuals.
NAICS code 541330
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Quincy
In the Quincy area, 4 businesses in the "Engineering Services" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 1) and received an average PPP loan of $23,976 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Elevated Design Inc
Quieto Consulting Engineers LLC
Industry PPP Comparison Statistics
Nationwide, 47,152 businesses in the "Engineering Services" industry received a total of $9.19B 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 13 employees, 1200% higher than Michael Vlachos' reported 1 employees, and received an average PPP loan of $194,873, 679% higher than this company's loan of $25,000.
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Footnotes & Information
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