PPP Loan Data — Simbal Technical Solutions Inc, Ashburn, VA
Simbal Technical Solutions Inc
Entity: Subchapter S Corporation
Location: Ashburn, VATweet This • Search All PPP Data
Simbal Technical Solutions Inc is a subchapter s corporation located at 43160 Tall Pines Ct in Ashburn, Virginia that received a Coronavirus-related PPP loan from the SBA of $25,105.00 in August, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Simbal Technical Solutions Inc in Ashburn, VA received a Paycheck Protection Loan of $25,105 through Quontic Bank, which was approved in August, 2020.
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, Simbal Technical Solutions Inc's 2019 payroll expenses are estimated to be at least $120,504.
Based on their reported 2 jobs retained, this equals an estimated average yearly compensation of $60,252 per employee1
Reported PPP Proceed Usage:
On the PPP application, Simbal Technical Solutions Inc reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,105
Business Information - Simbal Technical Solutions Inc in Ashburn, VA
43160 Tall Pines Ct
Ashburn, VA 20147
Software and Other Prerecorded Compact Disc, Tape, and Record Reproducing
NAICS code 334614
Business Owner Demographics
Veteran Status: Unreported
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Ashburn
In the Ashburn area, 10 businesses in the "Software and Other Prerecorded Compact Disc, Tape, and Record Reproducing" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 2) and received an average PPP loan of $23,253 (compared to this company's $25,105).
Similar Nearby Businesses Who Received PPP Funding:
Queta Solutions Inc
Innovative Software Technologies Inc
Dynamic Ventures Inc
NU Clouds Inc
Vidu Infotech Inc
Industry PPP Comparison Statistics
Nationwide, 1,506 businesses in the "Software and Other Prerecorded Compact Disc, Tape, and Record Reproducing" industry received a total of $159.3M 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 7 employees, 250% higher than Simbal Technical Solutions Inc's reported 2 employees, and received an average PPP loan of $105,779, 321% higher than this company's loan of $25,105.
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Footnotes & Information
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