PPP Loan Data — Silver Peak Systems Inc, Santa Clara, CA
Silver Peak Systems Inc is a corporation located at 2860 De La Cruz in Santa Clara, California that received a Coronavirus-related PPP loan from the SBA of $9,037,018.00 in April, 2020.
$ PPP Loan Information
Lender:SILICON VALLEY BANK
Silver Peak Systems Inc received a Paycheck Protection Loan of $9.04M through SILICON VALLEY BANK, 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 312 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 434.
Based on standard PPP eligibility rules, Silver Peak Systems Inc's total 2019 payroll expenses were approximately $43.38M (not accounting for salary amounts > $100k) in order to qualify for the PPP loan amount received.
Because the 312 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.
Business Information - Silver Peak Systems Inc in Santa Clara, CA
2860 De La Cruz
Santa Clara, CA 95050
Telephone Apparatus Manufacturing (NAICS code 334210)
Business Owner Demographics
Race / Ethnicity: Unreported
Veteran Status: UnreportedCongressional District: CA-17
Similar Companies near Santa Clara
In the Santa Clara area, 2 businesses in the "Telephone Apparatus Manufacturing" industry received a PPP loan. These local businesses reported an average of 156 employees (compared to this company's 312) and received an average PPP loan of $4,646,309 (compared to this company's $9.04M).
Similar Nearby Businesses Who Received PPP Funding:
Computer Performance, Inc.
Santa Clara, CA
Industry PPP Comparison Statistics
Nationwide, 227 businesses in the "Telephone Apparatus Manufacturing" industry received a total of $58,900,199.00 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 16 employees, 95% lower than Silver Peak Systems Inc's reported 312 employees, and received an average PPP loan of $259,472, 97% lower than this company's loan of $9.04M.
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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