PPP Loan Data — Romeo Systems, Inc., Vernon, CA
Romeo Systems, Inc.
Location: Vernon, CATweet This • Search All PPP Data
Romeo Systems, Inc. is a corporation located at 4380 Ayers Ave in Vernon, California that received a Coronavirus-related PPP loan from the SBA of $3,299,700.00 in April, 2020.
The company has reported itself as a Hispanic female owned business, and employed at least 131 people during the applicable loan loan period.
$ PPP Loan Information
Lender:NEWTEK SMALL BUSINESS FINANCE, INC.
Romeo Systems, Inc. in Vernon, CA received a Paycheck Protection Loan of $3.3M through NEWTEK SMALL BUSINESS FINANCE, INC., which was approved in April, 2020.
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 131 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.
2019 Payroll Estimations based On PPP Amount:
Assuming all employees were paid over the $100k eligibility cap, the minimum number of employees this company must have had in 2019 to qualify for the loan range received is 158.
Based on standard PPP eligibility rules, Romeo Systems, Inc.'s total 2019 payroll expenses were approximately $15.84M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 131 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - Romeo Systems, Inc. in Vernon, CA
4380 Ayers Ave
Vernon, CA 90058
All Other Miscellaneous Electrical Equipment and Component Manufacturing (NAICS code 335999)
Business Owner Demographics
Race / Ethnicity: HISPANIC
Gender: FEMALE OWNED
Veteran Status: NON-VETERANCongressional District: CA-40
Industry PPP Comparison Statistics
Nationwide, 1,412 businesses in the "All Other Miscellaneous Electrical Equipment and Component Manufacturing" industry received a total of $338,887,280.00 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 18 employees, 86% lower than Romeo Systems, Inc.'s reported 131 employees, and received an average PPP loan of $240,005, 93% lower than this company's loan of $3.3M.
FederalPay's PPP Information Policy
Footnotes & Information
3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.
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