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PPP Loan Data — Sigma Engineering Solutions Inc,
Las Vegas, NV
Sigma Engineering Solutions Inc
Entity: Corporation
Industry: Soybean Farming
Location: Las Vegas, NV
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Sigma Engineering Solutions Inc is a corporation located at 4488 Wagon Trail Ave in Las Vegas, Nevada that received a Coronavirus-related PPP loan from the SBA of $624,040.00 in February, 2021.
The company has reported itself as a male owned business, and employed at least 34 people during the applicable loan loan period.
$
PPP Loan Information
Loan #7879678408
Loan Size:
Jobs Retained:
34Loan Approved:
2021-02-12Loan Status:
Ongoing LoanLender:
Western Alliance BankSigma Engineering Solutions Inc in Las Vegas, NV received a Paycheck Protection Loan of $624,040 through Western Alliance Bank, which was approved in February, 2021.
This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.
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 MoreUnderstanding 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 MoreBased 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, Sigma Engineering Solutions Inc's 2019 payroll expenses are estimated to be at least $3M.
Based on their reported 34 jobs retained, this equals an estimated average yearly compensation of $88,100 per employee1
Reported PPP Proceed Usage:
On the PPP application, Sigma Engineering Solutions Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $624,036
- Utilities: $1
Business Information - Sigma Engineering Solutions Inc in Las Vegas, NV
4488 Wagon Trail Ave
Las Vegas, NV 89118
Business Industry:
Soybean Farming
NAICS code 111110
Business Owner Demographics
Race: Unreported
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: Existing or more than 2 years old
LMI Zone: N
HUBZone: Y
Rural / Urban: Urban
Industry PPP Comparison Statistics
Nationwide, 57,210 businesses in the "Soybean Farming" industry received a total of $1.13B 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 2 employees, 94% lower than Sigma Engineering Solutions Inc's reported 34 employees, and received an average PPP loan of $19,735, 97% lower than this company's loan of $624,040.
Sigma Engineering Solutions Inc
Entity: Corporation
Industry: Engineering Services
Location: Las Vegas, NV
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Sigma Engineering Solutions Inc is a corporation located at 4488 Wagon Trail Ave in Las Vegas, Nevada that received a Coronavirus-related PPP loan from the SBA of $624,000.00 in April, 2020.
The company has reported itself as a male owned business, and employed at least 40 people during the applicable loan loan period.
$
PPP Loan Information
Loan #6589917202
Loan Size:
Jobs Retained:
40Loan Approved:
2020-04-28Loan Status:
Paid in Full or ForgivenLender:
Western Alliance BankSigma Engineering Solutions Inc in Las Vegas, NV received a Paycheck Protection Loan of $624,000 through Western Alliance 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 January, 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 MoreUnderstanding 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 MoreBased 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, Sigma Engineering Solutions Inc's 2019 payroll expenses are estimated to be at least $3M.
Based on their reported 40 jobs retained, this equals an estimated average yearly compensation of $74,880 per employee1
Reported PPP Proceed Usage:
On the PPP application, Sigma Engineering Solutions Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $624,000
Business Information - Sigma Engineering Solutions Inc in Las Vegas, NV
4488 Wagon Trail Ave
Las Vegas, NV 89118
Business Industry:
Engineering Services
NAICS code 541330
Business Owner Demographics
Race: Unreported
Ethnicity: Not Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Demographics
Business Age: New Business or 2 years or less
LMI Zone: N
HUBZone: Y
Rural / Urban: Urban
Similar Companies near Las Vegas
In the Las Vegas area, 53 businesses in the "Engineering Services" industry received a PPP loan. These local businesses reported an average of 21 employees (compared to this company's 40) and received an average PPP loan of $336,778 (compared to this company's $624,000).
Similar Nearby Businesses Who Received PPP Funding:
MZK Logistics Inc
Las Vegas, NV
Mikon Construction Co., Inc
Las Vegas, NV
Johnny Trammell
Las Vegas, NV
Geotek Companies, Inc
Las Vegas, NV
Chinese Gaming Corporation
Las Vegas, NV
Civilworks, LLC
Las Vegas, NV
Thomad Engineering LLC
Las Vegas, NV
Silver State Consulting Intl
Las Vegas, NV
Industry PPP Comparison Statistics
Nationwide, 47,285 businesses in the "Engineering Services" industry received a total of $9.19B 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 13 employees, 68% lower than Sigma Engineering Solutions Inc's reported 40 employees, and received an average PPP loan of $194,408, 69% lower than this company's loan of $624,000.
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.
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.
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