PPP Loan Data — Skytech Telecom Corp, Hialeah, FL
Skytech Telecom Corp is a corporation located at 3492 W 84th St Unit 105 in Hialeah, Florida that received a Coronavirus-related PPP loan from the SBA of $25,000.00 in May, 2020.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:Bank of America, National Association
Skytech Telecom Corp in Hialeah, FL received a Paycheck Protection Loan of $25,000 through Bank of America, National Association, which was approved in May, 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, Skytech Telecom Corp's 2019 payroll expenses are estimated to be at least $120,000.
Based on their reported 5 jobs retained, this equals an estimated average yearly compensation of $24,000 per employee1
Reported PPP Proceed Usage:
On the PPP application, Skytech Telecom Corp reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $25,000
Business Information - Skytech Telecom Corp in Hialeah, FL
3492 W 84th St Unit 105
Hialeah, FL 33018
All Other Telecommunications
NAICS code 517919
Business Owner Demographics
Veteran Status: Unreported
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Hialeah
In the Hialeah area, 5 businesses in the "All Other Telecommunications" industry received a PPP loan. These local businesses reported an average of 4 employees (compared to this company's 5) and received an average PPP loan of $61,636 (compared to this company's $25,000).
Similar Nearby Businesses Who Received PPP Funding:
Easysim4U Telecom Services LLC
1 Voice Sales Inc
Industry PPP Comparison Statistics
Nationwide, 10,134 businesses in the "All Other Telecommunications" industry received a total of $909.64M 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 8 employees, 60% higher than Skytech Telecom Corp's reported 5 employees, and received an average PPP loan of $89,761, 259% higher than this company's loan of $25,000.
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Footnotes & Information
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