PPP Loan Data — Professional Billing Service, Victor, WV
Professional Billing Service is a corporation located at 23047 Midland Trail in Victor, West Virginia that received a Coronavirus-related PPP loan from the SBA of $47,190.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Truist Bank d/b/a Branch Banking & Trust Co
Professional Billing Service in Victor, WV received a Paycheck Protection Loan of $47,190 through Truist Bank d/b/a Branch Banking & Trust Co, 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.
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, Professional Billing Service's 2019 payroll expenses are estimated to be at least $226,512.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $37,752 per employee1
Reported PPP Proceed Usage:
On the PPP application, Professional Billing Service reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $47,190
Business Information - Professional Billing Service in Victor, WV
23047 Midland Trail
Victor, WV 25938
Office Administrative Services
NAICS code 561110
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: N
Rural / Urban: Rural
Industry PPP Comparison Statistics
Nationwide, 44,947 businesses in the "Office Administrative Services" industry received a total of $2.36B 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 6 employees, the same amount reported by Professional Billing Service and received an average PPP loan of $52,468, 11% higher than this company's loan of $47,190.
FederalPay's PPP Information Policy
Footnotes & Information
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