PPP Loan Data — NCS Techonologies, Gainesville, VA
NCS Techonologies is a subchapter s corporation located at 7669 Limestone Drive in Gainesville, Virginia that received a Coronavirus-related PPP loan from the SBA of $2,421,245.00 in April, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Truist Bank d/b/a Branch Banking & Trust Co
NCS Techonologies in Gainesville, VA received a Paycheck Protection Loan of $2.42M through Truist Bank d/b/a Branch Banking & Trust Co, which was approved in April, 2020.
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, NCS Techonologies' 2019 payroll expenses are estimated to be at least $11.62M.
Based on their reported 128 jobs retained, this equals an estimated average yearly compensation of $90,797 per employee1
Reported PPP Proceed Usage:
On the PPP application, NCS Techonologies reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $2,421,245
Business Information - NCS Techonologies in Gainesville, VA
7669 Limestone Drive
Gainesville, VA 20155
Electronic Computer Manufacturing
NAICS code 334111
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 1,112 businesses in the "Electronic Computer Manufacturing" industry received a total of $212.91M 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 14 employees, 89% lower than NCS Techonologies' reported 128 employees, and received an average PPP loan of $191,467, 92% lower than this company's loan of $2.42M.
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Footnotes & Information
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