PPP Loan Data — Serran Corp DBA Vte, Morgan Hill, CA
Serran Corp DBA Vte is a corporation located at 15920 Concord Cir in Morgan Hill, California that received a Coronavirus-related PPP loan from the SBA of $25,255.00 in January, 2021.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Wells Fargo Bank, National Association
Serran Corp DBA Vte in Morgan Hill, CA received a Paycheck Protection Loan of $25,255 through Wells Fargo Bank, National Association, which was approved in January, 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, Serran Corp DBA Vte's 2019 payroll expenses are estimated to be at least $121,224 (not accounting for salary amounts > $100k).
Because the 1 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Reported PPP Proceed Usage:
On the PPP application, Serran Corp DBA Vte reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,252
- Utilities: $1
Business Information - Serran Corp DBA Vte in Morgan Hill, CA
15920 Concord Cir
Morgan Hill, CA 95037
Other Commercial Equipment Merchant Wholesalers
NAICS code 423440
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 3,908 businesses in the "Other Commercial Equipment Merchant Wholesalers" industry received a total of $496.22M 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 11 employees, 1000% higher than Serran Corp DBA Vte's reported 1 employees, and received an average PPP loan of $126,976, 403% higher than this company's loan of $25,255.
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Footnotes & Information
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