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PPP Loan Data — Optical Cable Corporation, Roanoke, VA

SBA PPP loan data, payroll data, and salaries for Optical Cable Corporation
VA

Optical Cable Corporation

Entity: Corporation

Industry: Fiber Optic Cable Manufacturing

Location: Roanoke, VA

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Optical Cable Corporation is a corporation located at 5290 Concourse Dr in Roanoke, Virginia that received a Coronavirus-related PPP loan from the SBA of $4,981,400.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$4.98M

Jobs Retained:

370

Loan Approved:

2020-04-12

Lender:

PINNACLE BANK

Optical Cable Corporation received a Paycheck Protection Loan of $4.98M through PINNACLE BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Optical Cable Corporation's total 2019 payroll expenses were approximately $23.91M in order to qualify for the PPP loan amount received.

Based on their reported 370 jobs retained, this equals an estimated average yearly compensation of $64,624 per employee1.

Because the loan received by Optical Cable Corporation is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Optical Cable Corporation in Roanoke, VA

Optical Cable Corporation
5290 Concourse Dr
Roanoke, VA 24019

Business Industry

Fiber Optic Cable Manufacturing (NAICS code 335921)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: VA-09

Similar Companies near Roanoke

In the Roanoke area, 2 businesses in the "Fiber Optic Cable Manufacturing" industry received a PPP loan. These local businesses reported an average of 185 employees (compared to this company's 370) and received an average PPP loan of $2,516,235 (compared to this company's $4.98M).

Similar Nearby Businesses Who Received PPP Funding:

Virginia Plastics Company Inc
Roanoke, VA

$51,070 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 170 businesses in the "Fiber Optic Cable Manufacturing" industry received a total of $44,923,425.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 23 employees, 94% lower than Optical Cable Corporation's reported 370 employees, and received an average PPP loan of $264,255, 95% lower than this company's loan of $4.98M.

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.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. 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.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/optical-cable-corporation-roanoke-va