PAYCHECK PROTECTION LOAN DATA NOW AVAILABLE — FederalPay is now hosting the latest publicly released PPP loan company data from the SBA

PPP Loan Data — Old Dominion Energy Inc, Wise, VA

ALERT: There are 2 PPP loans for a total of $23,290 in our database for businesses with the name "Old Dominion Energy Inc" in Wise, VA. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for Old Dominion Energy Inc
VA

Old Dominion Energy Inc

Entity: Corporation

Industry: Bituminous Coal Underground Mining

Location: Wise, VA

Search All PPP Data

Old Dominion Energy Inc is a corporation located at Po Box 1247 in Wise, Virginia that received a Coronavirus-related PPP loan from the SBA of $11,890.00 in January, 2021.

The company has reported itself as a male owned business, and employed at least three people during the applicable loan loan period.

$ PPP Loan Information
Loan #3005518309

Loan Size:

$11,890

Jobs Retained:

3

Loan Approved:

2021-01-21

Loan Status:

Paid in Full or Forgiven

Lender:

Legacy Bank

Old Dominion Energy Inc in Wise, VA received a Paycheck Protection Loan of $11,890 through Legacy Bank, which was approved in January, 2021.

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 August, 2021.

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, Old Dominion Energy Inc's 2019 payroll expenses are estimated to be at least $57,072.

Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $19,024 per employee1

Reported PPP Proceed Usage:

On the PPP application, Old Dominion Energy Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $11,890

Business Information - Old Dominion Energy Inc in Wise, VA

Old Dominion Energy Inc
Po Box 1247
Wise, VA 24293

Business Industry:
Bituminous Coal Underground Mining
NAICS code 212112

Business Owner Demographics

Race: Unreported

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: Y

Rural / Urban: Urban

Norton City County, VA — SBA Office 0304 — Congressional District: VA-09

Similar Companies near Wise

In the Wise area, 6 businesses in the "Bituminous Coal Underground Mining" industry received a PPP loan. These local businesses reported an average of 17 employees (compared to this company's 3) and received an average PPP loan of $226,010 (compared to this company's $11,890).

Industry PPP Comparison Statistics

Nationwide, 137 businesses in the "Bituminous Coal Underground Mining" industry received a total of $109.86M 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 45 employees, 1400% higher than Old Dominion Energy Inc's reported 3 employees, and received an average PPP loan of $801,906, 6644% higher than this company's loan of $11,890.

SBA PPP loan data, payroll data, and salaries for Old Dominion Energy Inc
VA

Old Dominion Energy Inc

Entity: Corporation

Industry: Bituminous Coal Underground Mining

Location: Wise, VA

Search All PPP Data

Old Dominion Energy Inc is a corporation located at 5505 Wise Norton Rd in Wise, Virginia that received a Coronavirus-related PPP loan from the SBA of $11,400.00 in April, 2020.

The company has reported itself as a male owned business, and employed at least three people during the applicable loan loan period.

$ PPP Loan Information
Loan #4952927201

Loan Size:

$11,400

Jobs Retained:

3

Loan Approved:

2020-04-27

Loan Status:

Paid in Full or Forgiven

Lender:

Legacy Bank

Old Dominion Energy Inc in Wise, VA received a Paycheck Protection Loan of $11,400 through Legacy Bank, 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, 2021.

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, Old Dominion Energy Inc's 2019 payroll expenses are estimated to be at least $54,720.

Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $18,240 per employee1

Reported PPP Proceed Usage:

On the PPP application, Old Dominion Energy Inc reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $11,400

Business Information - Old Dominion Energy Inc in Wise, VA

Old Dominion Energy Inc
5505 Wise Norton Rd
Wise, VA 24293

Business Industry:
Bituminous Coal Underground Mining
NAICS code 212112

Business Owner Demographics

Race: Unreported

Ethnicity: Not Hispanic or Latino

Gender: Male Owned

Veteran Status: Unreported

Business Demographics

Business Age:

LMI Zone: N

HUBZone: Y

Rural / Urban: Rural

Wise County, VA — SBA Office 0304 — Congressional District: VA-09

Similar Companies near Wise

In the Wise area, 6 businesses in the "Bituminous Coal Underground Mining" industry received a PPP loan. These local businesses reported an average of 17 employees (compared to this company's 3) and received an average PPP loan of $226,010 (compared to this company's $11,400).

Industry PPP Comparison Statistics

Nationwide, 137 businesses in the "Bituminous Coal Underground Mining" industry received a total of $109.86M 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 45 employees, 1400% higher than Old Dominion Energy Inc's reported 3 employees, and received an average PPP loan of $801,906, 6934% higher than this company's loan of $11,400.

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.

Search FederalPay's Full PPP Loan Database

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.


Have FederalPay.org's open data tools been valuable? Consider donating!

** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/old-dominion-energy-inc-wise-va